Why do Zillow home value estimates often fluctuate wildly compared to actual closed appraisal values in rapidly changing neighborhood markets?
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Why do Zillow home value estimates often fluctuate wildly compared to actual closed appraisal values in rapidly changing neighborhood markets?
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Zillow Zestimate accuracy how estimates are calculated rapidly changing markets appraisal closed sales limitationsGoogle ↗
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Zillow Zestimate accuracy how estimates are calculated rapidly changing markets appraisal closed sales limitations Google ↗
- What is a Zestimate? · zillow.com
- To overcome this challenge, we leverage three algorithm updates during our observation periods. Zillow occasionally updates the Zestimate algorithm to improve its prediction accuracy. The algorithm updates occur unexpectedly for individual users and lead to sudden changes in Zestimate values for most properties. While how the market values a property or specific home characteristic may also change over time, such market-wide shifts are generally gradual and slow. In contrast, the algorithm updat · questromworld.bu.edu
- How Accurate Is My Zestimate, and Can I Influence It? · zillow.com