Auction.com LLC, which got a $50 million investment from Google Inc. in March, said it will use the Internet-search company’s big-data capabilities to try to predict U.S. home sales and other trends ahead of competitors.
The new product, known as Auction.com Real Estate Nowcast, based on Google Trends information and other data, predicts that existing homes will sell at an annual pace of 5.18 million in October, according to a statement today. That estimate is ready about four weeks before the National Association of Realtors reports its seasonally adjusted annual sales rate, which was 5.17 million last month and 5.13 million in October 2013.
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