As I browsed Redfin, I came across the estimate history of the house I sold earlier this year. I was surprised to see that the estimate was trending upwards, when prices in my area are dropping. Looking closer, it was clear that there’s some funny business going on with the historical estimate.
Currently on Redfin, the graph shows the March estimate as $891K.
In an email from March, the estimate for the same property was $1.04M
So while the estimate has dropped by nearly $150K, their graphs make it look as though the value is still rising. I recognize these estimates aren’t accurate at all, but it’s shady nonetheless that they’re changing things retroactively to make it appear prices are going up.