Zillow: $1,000/Month Cash Flow Exists in These Markets

Dave: Orphe, welcome back to On the Market. Thanks for joining us again. Orphe: Thanks for having me. Dave: Well, I want to start with a report that your team put out because I’ll just be honest, I liked the headline. It said, “Home shopping season shows signs of life as sales new listings rebound.” So tell us a little bit about it. I like the sound of signs of life. Where are you seeing that in the market right now? Orphe: Yeah, I want to catch this a little bit. We’re seeing an increase in sales, but it’s kind of normal. We’re getting to that kind of peak of the home shopping season, so that’s somewhat expected. I think the fact that mortgage rates are still below year ago levels also providing support for activity right now. The typical monthly mortgage payment, if you were to come up with 20% down, is down roughly 2.5% on a year-over-year basis. So that’s the positive, but it’s really a fragile recovery because there are so many headwinds. We know inflation is back to above 4%. The labor market is still very uncertain. Higher rates and quits are really low. Quits are low because people don’t feel confident enough to go and look for another job or jump ship to a better pay. And ...