Affordability crisis stunting home purchases: Zillow CFO

Affordability crisis stunting home purchases: Zillow CFO Jeremy Hofmann tells Julie Hyman that the company expects housing to remain roughly flat in 2024. Hofmann explains that Zillsow seeks to become a "housing super-app," providing rental and selling options alongside home and land options.

Zillow Group Inc. shares fell after the real estate company published a second-quarter outlook. The real estate firm predicted stalling growth in the broader US housing market. It also predicted lower revenue in its core business and stalling in the housing market growth. The company's stock has slumped on first-time buyers and mortgage rate headwinds.