I honestly think Zillow IS a market inefficiency. It's bad enough that it can't be relied on at local scales, yet ubiquitous enough that I think it pushes the

I honestly think Zillow IS a market inefficiency. It's bad enough that it can't be relied on at local scales, yet ubiquitous enough that I think it pushes the market around a bit and has made prices stickier than they should be. It overvalues poorly maintained houses and probably undervalues well-maintained ones. Not sure how much it really helps with price discovery...