Getting Better at Predicting House Prices
Zillow has launched a data science challenge called the Zillow Prize that provides participants with datasets of real estate information that could influence house prices to encourage them to develop algorithms that can best predict real estate sales prices. Zillow’s “Zestimate” tool gives prospective home-buyers an estimate of housing prices based on factors such as price histories for nearby real estate sales and house features. The Zillow Prize will award $1 million to the team that can best reduce the discrepancies between Zillow’s Zestimate and the actual sale price.
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