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Zillow Zestimates Go Neural: What It Means for Investors

·3 min read

Automated valuation models (AVM) like Zillow's (NASDAQ: ZG) (NASDAQ: Z) Zestimate have provided access and ease for estimating real estate values to millions of everyday Americans. Driven by data and algorithms, AVM technology is able to quickly and automatically provide estimated property values using property-specific and sales data. Zillow recently announced major changes to its valuation algorithm, leveraging neural networks to improve the error rate by nearly a whole percentage point.