The Walker Webcast Ivy Zelman, EVP and Co-Founder of Zelman, a Walker & Dunlop Company
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Jan 22, 2026 
Ivy Zelman, the executive vice president and co-founder of Zelman, brings her expertise as a leading housing market analyst to discuss pressing industry issues. She analyzes the implications of recent Davos discussions, the withdrawal of institutional capital from single-family rentals, and the growing impact of AI in housing. Ivy highlights affordability challenges, market performance disparities, and her outlook on emerging investment opportunities in the Midwest. With insights on labor, immigration, and the effects of mortgage rates, this conversation is packed with valuable perspectives on today's housing landscape.
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Multifamily Recovery Is Uneven And Slower
- Multifamily absorption slowed in Q4 as demand weakened against heavy supply, delaying nationwide recovery.
- Sunbelt markets will likely carry elevated oversupply into 2027 while coastal markets diverge positively.
Affordability, Not Supply, Is The Core Problem
- The core problem is a shortage of affordable-priced homes, not total housing volume.
- Many young adults remain at home because suitable low-cost housing options don't exist.
Spec Builds Depend On Rate Buy-Downs
- Builders are selling mostly spec homes and rely heavily on mortgage rate buy-downs to qualify buyers.
- This keeps margins pressured and ties absorption to incentive programs rather than organic demand.
