As I browsed Redfin, I got here throughout the estimate historical past of the home I offered earlier this yr. I used to be shocked to see that the estimate was trending upwards, when costs in my space are dropping. Wanting nearer, it was clear that there is some humorous enterprise happening with the historic estimate.
At the moment on Redfin, the graph exhibits the March estimate as $891K.
In an e mail from March, the estimate for a similar property was $1.04M
So whereas the estimate has dropped by almost $150K, their graphs make it look as if the worth continues to be rising. I acknowledge these estimates aren’t correct in any respect, nevertheless it’s shady nonetheless that they are altering issues retroactively to make it seem costs are going up.