Americans Turn to AI to Navigate Tough Housing Market

According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage reached 6.95% for the week ending September 17, rising from 6.76% the previous week and 6.26% a year prior. This persistent upward pressure toward the 7% threshold, combined with an ongoing inventory shortage, leaves many prospective homebuyers feeling priced out of the residential market. Beyond traditional market pressures, consumer reliance on artificial intelligence is transforming how buyers, sellers, and real estate professionals approach transactions. Furthermore, 37% of survey participants stated they would allow technology to handle a property purchase with minimal human involvement. Budgeting tasks draw the heaviest consumer interest in artificial intelligence tools. An identical share of 24% reported they would use the technology to calculate personal affordability. Additional financial tasks also ranked high among surveyed consumers. Approximately 18% of respondents would use artificial intelligence to explain mortgage options, and 16% would rely on it to compare mortgage offers. These figures outpace non-financial tasks such as scheduling showings at 8%, organizing listing photos at 8%, and assisting with offer negotiations at 7%. Parallel findings emerge from Bank of America’s 2026 Homebuyer Insights Report. Among prospective buyers using artificial intelligence, 57% cited estimating affordability, monthly mortgage payments, or closing costs as their primary application. The report notes that younger demographics drive this adoption, with 32% of Gen Z respondents reporting they have used artificial intelligence during their search. Major industry platforms are expanding specialized features to meet this demand. Earlier this year, Zillow and Homes.com introduced artificial intelligence assistants designed to guide users through financing, neighborhood details, and school information. Zillow reports that technology is actively reshaping every phase of the homebuying workflow. Real estate agents are also adopting these digital systems in large numbers. A survey by the National Association of Realtors shows that 92% of agents currently use or plan to use artificial intelligence, with 71% pointing to time savings as the primary benefit. Despite widespread adoption, professionals express notable reservations regarding accuracy and data reliability. More than three-fifths of agents, or 63%, named accuracy as a top concern, while 49% worried about compliance and legal issues, and 47% cited the risk of misread market data. Individual sellers have also found unconventional success using automated tools. Fortune previously reported on Robert Levine, who utilized ChatGPT to manage property upgrades and schedule viewings for his Florida home. The property ultimately sold for $100,000 more than professional agent estimates, achieving one of the highest per-square-foot prices in that local market. At the same time, industry veterans caution that technology presents distinct limitations. Parisa Afkhami, a high-end real estate agent in New York City, stated in an interview with Mansion Global that while artificial intelligence staging has grown rapidly, she considers it

misleading to buyers

. Afkhami recounted an instance where a client walked out of a property showing within minutes because the physical home failed to match online artificial intelligence-enhanced photographs.