The National Association of Realtors (NAR) has officially responded to an appraisal matter that came out of Washington recently.

NAR President Leslie Rouda-Smith issued the following statement after the White House Domestic Policy Council and the Department of Housing and Urban Development released its plan to address appraisal bias and the home appraisal process.

“Realtors are committed to upholding fair housing laws in all real estate activities, including appraisals,” Rouda-Smith said in her statement. “We are proud of the part we played in this report, including meeting with the PAVE Task Force to propose solutions on how the Biden administration, Realtors, and the broader appraisal industry can work together to address concerns and improve public trust in the appraisal profession without undermining the soundness of the market.

“Historically, many groups have faced unfair home undervaluation,” the NAR president added. “Addressing those wrongs is key to providing financial stability to not only homeowners, but entire communities, and benefits the nation as a whole.”