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Today's Market News:
Buyers Keep Buying During Shutdown
While some Americans are changing their shopping plans because of the ongoing government shutdown, most are moving forward with big-ticket purchases like homes and new vehicles.
A new Redfin survey from earlier this month found that while 17% of Americans are delaying large purchases, 65% of respondents stated that the shutdown has no impact on their plans. Only 7% are canceling plans for any major purchases.
However, job security is still worrying a number of Americans. In August 2025, 37% of workers reported that their worries about job security had increased since the start of the year, and 24% stated that they were cancelling plans for major buys.
It's worth noting that the White House is considering not paying furloughed federal employees for time they didn't work during this shutdown. In addition, millions of others who are employed by private companies may also go without pay during the shutdown if their projects rely on federal grants or contracts.1
OpenAI Invites Zillow for a Chat
Zillow has announced that its real estate search functions have been integrated with ChatGPT, one of the world's most popular AI platforms.
House-hunters and potential renters can ask ChatGPT the same questions they would ask agents when searching for homes. Even property features, such as "show me homes with backyard pools", are handled by the chatbot. Users searching for homes with ChatGPT will receive details of appropriate listings, complete with photos, maps, and pricing. After they've checked these out, they're guided back to Zillow to schedule a tour, connect with an agent or explore financing.
In addition to properties whose sales are being managed by a real estate agent, FSBO homes and rental properties can also be located with ChatGPT. Future plans for improvement include integration of new construction listings and immersive 3D tours.2
The Latest on the Government Shutdown
As the October shutdown enters its third week, delays for some home financing programs are affecting buyers. Processing for FHA and VA loans has slowed because of reduced staffing, while the Department of Agriculture has stopped approving new USDA loans.
While conventional loans are generally unaffected, delays have been caused if and when a lender needs to obtain income verification from the IRS or Social Security Administration. Both are currently operating with limited staff.
Buyers considering homes within certain flood zones may be affected, as a lapse in the National Flood Insurance Program (NFIP) has prevented the issuance of new policies. The National Association of Realtors® estimates this lapse could complicate around 1,400 transactions daily.3
Listings Pics Go from Staged to AI-Enhanced
Chances are, you're glad that staging an empty property can now be done without dragging furniture inside. Staging software like Applydesign and roOomy make it easy to create listing photos with well-furnished rooms that show furniture and decor instead of bare floors and walls. They're well-worth the investment, as more than 80% of buyers' agents told NAR that it helps buyers imagine a property as their future home.
However, some homeowners and agents have gone a step further, using AI to change a home's features. A homeowner may use AI to make a patchy lawn resemble a golf green, or an aging roof resemble a new one. While this may draw more interest, some potential buyers will feel disappointed or even resentful if a home appears significantly different than its listing photos.
So, who decides what is permissible and what is dishonest?
Most MLS require disclosures of staging and other virtual changes, and don't allow AI-enhanced photos that have altered the dimensions or physical features of a property. Agents and staging pros add disclaimers that explain the addition of virtual furniture and fixtures.4
Senate Passes ROAD to Housing Act
The Act includes several provisions designed to meet America's diverse housing needs:
Building More Homes and Cutting Red Tape: Helps communities overcome zoning and other barriers, streamlines environmental reviews for housing projects, and creates grants for communities to build more homes.
Opening Doors to Home Ownership: Removes barriers that make it harder to get smaller mortgages, improves the home appraisal process, helps families save for home purchases, and ensures veterans are informed of their home loan benefits.
Supporting Housing Innovation: Updates rules and financing for manufactured and modular homes and encourages new building technologies that make housing more affordable.
The Act now advances to the House, where differences between the House and Senate versions will be resolved.5
Sources: 1redfin.com, 2nationalmortgageprofessional.com, 3nar.realtor, 4cnbc.com, 5nar.realtor
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