I've figured out how real estate prices are on a never ending upward spiral. Redfin's algorithm is programmed to show listings 1% higher than Zillow. Owners like that, driving traffic. Then, Zillow regularly checks their prices vs. Redfin and normalizes. Then cycle begins anew.
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I should preface that this tweet is mostly sarcastic.
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My observations are that Redfin is typically higher, which benefits them as they refer to their realtors. The gap is usually 1% or so on same properties. And typically, Zillow pricing increases to catch up. So it's not a totally idle sarcastic tweet.
End of conversation
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