Mortgage rates have risen 6 out of the 7 past weeks, further adding to housing market constraints. Zillow Group (Z) CEO Jeremy Wacksman joins Market Domination Overtime to provide insights into the challenging real estate landscape, highlighting how Zillow is navigating the dynamics affecting homebuyers and sellers. Wacksman identifies two critical challenges confronting the housing market: affordability and inventory availability. High interest rates and escalating house prices "squeeze most buyers," while reduced post-pandemic inventory further complicates market conditions. "The good thing about Zillow is that we were able to grow our share of transactions regardless of the macro," Wacksman explains. The company’s strategy focuses on integrated software solutions that streamline transactions for buyers, sellers, and renters. "The pent-up demand to move is there," he notes, stating that individuals are ultimately making housing decisions driven by life changes. He notes Zillow’s platform continues to experience growth across residential, mortgage, and rental segments.
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