Home prices, which stabilized in recent months, are rising due to a shortage of pre-owned homes on the market. New single-family housing construction is
in response; despite an overall drop in housing starts in June, single-family building permit applications hit a 12-month-high. As remote workers moved into homes during the COVID-19 pandemic, housing demand outstripped supply, causing prices and construction to rise until late 2022, when the Federal Reserve’s interest rate hikes drove up mortgage rates.
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How artificial intelligence is being used in the housing marketTrying to rent or buy in the current housing market can be frustrating, expensive and almost always time consuming, but companies that work with both renters and buyers are turning to artificial intelligence to try to make the process easier.
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