Why are the curves so smoothed out for the past year?
Customer experience/visibility. It doesnt look good if estimates are jumping all over the place. Which they do
Algorithm is learning(?)
Becasue they are poor estimates
They are retroactively fitted.
The retroactive fitment is deceptive. What Redfin is doing is hiding declines in home values to keep potential buyers committed to buying a home. They are smoothing out the downward trend by retroactively erasing peaks in prior periods to create the appearance of slow and steady price increases, instead of depicting what is actually happening: prices in many west coast metropolitan markets are falling in 2019. It’s a dishonest sales practice that is legal, because no legislator has conceived of such a type of fraud before and likely won’t for some time. Redfin can hide behind the fact that it changed methodologies, but in reality, whatever the estimate was published as at that point in time should remain fixed as the estimate for that point in time, because they more accurately reflected actual markets before Redfin smoothed them.
What are you talking about?