AI in Real Estate: Forecasting House Prices with Advanced Machine Learning Models

Jiashuo Cui, Zhitong Liu, Yinghan Ma

2024

Abstract

Homes are essential to our lives, providing a comfortable space for living, working, and learning. Therefore, everyone needs a place to call home. This article describes how to use different machine learning algorithms (one of the core techniques of artificial intelligence, including linear regression, decision trees, random forests, and XGBoost) to complete the task of predicting house price trends at a time when house price trends are becoming the focus of attention. The performance of each model is compared to evaluate its different advantages and disadvantages in predicting housing prices. The results show that XGBoost model is the most effective in predicting house prices and becomes the best choice, followed by random forest model linear regression model, decision tree model can play a role in some cases. The results of the experiment can not only be convenient for home buyers or real estate developers to get help, but also can be used as a reference for government decision-making.

Paper Citation

in Harvard Style

Cui J., Liu Z. and Ma Y. (2024). AI in Real Estate: Forecasting House Prices with Advanced Machine Learning Models. In Proceedings of the 2nd International Conference on Data Analysis and Machine Learning - Volume 1: DAML; ISBN 978-989-758-754-2, SciTePress, pages 144-148. DOI: 10.5220/0013511000004619

in Bibtex Style

@conference{daml24,
author={Jiashuo Cui and Zhitong Liu and Yinghan Ma},
title={AI in Real Estate: Forecasting House Prices with Advanced Machine Learning Models},
booktitle={Proceedings of the 2nd International Conference on Data Analysis and Machine Learning - Volume 1: DAML},
year={2024},
pages={144-148},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0013511000004619},
isbn={978-989-758-754-2},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd International Conference on Data Analysis and Machine Learning - Volume 1: DAML
TI - AI in Real Estate: Forecasting House Prices with Advanced Machine Learning Models
SN - 978-989-758-754-2
AU - Cui J.
AU - Liu Z.
AU - Ma Y.
PY - 2024
SP - 144
EP - 148
DO - 10.5220/0013511000004619
PB - SciTePress