Tag Archives: Zillow

Why Zillow Couldn’t Make Algorithmic House Pricing Work | WIRED

ZILLOW’S ZESTIMATE OF home values has become a go-to reference for US homeowners. But when Zillow tried to use its algorithm to buy and sell homes, it badly misread the market.

The company’s iBuyer (or “instant buyer”) arm, where tech-first firms use algorithms to quickly value, buy, and sell homes, launched in 2018 in Phoenix. It joined a bustling market in the Arizona city: Opendoor, Redfin, and Offerpad have been buying and flipping homes there since around 2014.

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Why your rent check just keeps going up | Money.Cnn

It’s gotten a lot harder to make the rent.

Rents have been soaring across the country, even outpacing home values, according to a recent Zillow report. Some areas are facing a particularly harsh reality: In San Francisco, renters have seen a nearly 15% yearly increase, and Denver tenants have faced an 11.6% rise.

And it’s not just a big city problem.

“Places that were more traditionally affordable are growing more quickly,” said Skylar Olsen, senior economist at Zillow.

The reason? A shortage of available rentals.

“Vacancy rates are at very low levels, which continues to push rents higher,” said Andrew Jakabovics, senior director, Policy Development & Research at Enterprise Community Partners.

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