#USA #AI #Austin #Housing Market #Realtor.com

Embracing AI in the Housing Market

In recent developments, a survey conducted by Realtor.com® reveals that 82% of Americans are now harnessing artificial intelligence (AI) to navigate the complexities of the housing market. This statistic underscores a significant cultural shift towards more tech-driven approaches for obtaining real estate insights. Despite the growing use of AI, traditional real estate agents still hold a strong position as trusted sources of information.

Among the many AI platforms available, ChatGPT emerges as the favorite, with 67% of users indicating its frequent use. Gemini follows closely behind with 54%. The increasing acceptance of these tools highlights a trend where consumers are eager to personalize their housing searches through AI-driven solutions. In response to this consumer interest, Realtor.com® has launched an innovative AI-powered search experience aimed at aligning with how users naturally communicate when searching for homes.

Additionally, social media has proven to be a prevalent source of housing information, with nearly 90% of respondents actively turning to these platforms. YouTube stands out as the most popular, being used by 73% of the surveyed population, while 57% mentioned Facebook as another useful platform. Notably, Gen Z users indicate a growing reliance on TikTok for housing-related content, showcasing a generational shift in how information is consumed.

Danielle Hale, Chief Economist at Realtor.com®, remarked, "The housing market remains a challenge for both buyers and sellers, and Americans are responding by embracing new ways to get smarter about their decisions through AI and social media. This shift indicates that the future of real estate will not only be shaped by market conditions but also by the rapid adoption of innovative tools by consumers."

When asked about which information sources they found most reliable in making informed decisions, respondents cited real estate agents as the most reliable (62%), with AI close behind at 61%. Alongside AI, traditional media and social platforms also feature prominently as valuable resources. Notably, real estate agents have been deemed the most accurate source of market information, outpacing AI, friends and family, and news articles.


Despite an evident reliance on AI and social media, the survey highlights a discrepancy between the information provided through these platforms and its applicability to specific local markets. About 40% of respondents noted that TV and streaming show content does not represent their market accurately. Similarly, 30% felt that social media provided misleading insights, while 24% found family insights unhelpful in reflecting real market conditions.

This analysis illustrates that even though buyers and sellers are exploring new methods for gaining insights, the value of expert real estate guidance is irreplaceable, especially given that only 28% of homes are deemed affordable for the average household, as noted in a recent Realtor.com report. The study indicates that more housing options and potential price reductions are becoming available as active listings rise, offering hope to eager buyers.

In summary, the Realtor.com® survey indicates a significant shift in how Americans access housing market information, integrating AI and social media into their decision-making processes while still valuing the expertise of real estate professionals. This balance of innovation and trust will likely continue to shape the real estate landscape in the years ahead.