Zillow is now predicting what the value of individual homes will be a year from now, using an algorithm that incorporates facts about each property and local economic and housing data. The "Zestimate forecasts" -- which are updated on a monthly basis -- are currently available for more than 50 million homes, and Zillow anticipates rolling out the feature for all 100 million properties in its database for which it has real estate and Zestimate data. The forecasts are built with data specific to a certain home, like square footage and number of bedrooms and bathrooms. Where available, the forecasts also tap information that agents and homeowners have entered -- to date, 47 million homes in Zillow's database have such user-generated information attached to them. That data is mashed u...
May 5, 2014 by Paul Hagey
Mar 31, 2014 by Hank Miller