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I’ve attached a video for the TL;DR crowd but basically Zillow:

• Analyzes who is attempting to buy what and where
• How much they can afford
• It takes this data in amalgam and uses it to know where to purchase houses
• It buys all the houses in an area for cash and then the last house they buy they’ll buy it for more so that it increases the value of al the previous houses it bought
• They know people can afford the price difference because they know who is searching there and how much they can afford
  
  
  
  [MEDIA=twitter]1438902302807674883[/MEDIA]