Boston Condos for Sale and Apartments for Rent
Here’s why Zillow stock plunged 80% from its peak value
If you’ve ever wondered what you could get for your Boston condo, you probably pulled up the real estate listing site Zillow to check its Zestimate.
The algorithm-fueled pricing tool estimates values for millions of homes across the country and is a popular resource for homebuyers and sellers alike.
However, determining a home’s value is a delicate process — not something easily accomplished at the push of a button.
Problems with the company’s estimates forced it to shut down its home-buying business and lay off a quarter of its staff. And that is why Zillow stock plunged 80% from its peak value.
