Local regression

Local regression is a way of predicting something, like the value of a house, by looking at the values of other similar houses close by. It's like asking your neighbors, 'What do you think my house is worth?' and then using that information to figure out what your house is worth. It's different than just using the average of all the values of all the houses in the entire neighborhood because it takes into account more specific information about the house in question. For example, if a few houses on your street sold for much more than average, local regression would take that into account and give you a higher value for your house.