How Big Data Is Impacting the Real Estate Industry

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Traditionally, real estate prices have been determined mostly by the number of people moving in and out of an area, along with the availability of jobs, shops, and other opportunities for families. These factors then were summed in simple mathematical models and used by real estate agents to decide home values. But in reality, it’s a mix of factors that work in delicate balance with each other to determine trends in real estate markets.

Technology and software development companies have recognized the complexity of the real estate market and seen it as an opportunity to bring innovative solutions to one of the oldest markets in the world. In the short amount of time that these data-based companies have entered the real estate industry, they’ve fundamentally changed how market analysis is performed.

Here, you’ll find some of the key ways that big data - and the companies processing this data - are impacting the real estate industry.

Micro-trends Shaping Local Markets

One of the biggest impacts that big data analytics has had on the real estate industry is the exposure of micro-trends to a broad audience. The real estate industry has traditionally assumed that neighborhoods are generally the same throughout - even when a neighborhood ...


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