Online real estate company Zillow (Z) has issued cautious second quarter guidance as first-time homebuyer activity tumbles amid interest rate spikes.

Zillow CFO Jeremy Hofmann tells Julie Hyman that the company expects housing to remain roughly flat in 2024 as affordability continues to pose a challenge to homebuyers. He explains that Zillow seeks to become a "housing super-app," providing users with rental and selling options alongside home and land options.

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This post was written by Melanie Riehl