My question is I will have about $120,000 in equity that I would like to be able to park in a zero risk asset that would hopefully cover any potential increase in the housing market prices.
It sounds like your only options are to use cash accounts. FDIC insurance is the closest thing you'll get to 0 risk, which insures each account up to 250,000. Ally Bank online is pretty liquid and allows you to ear something like 2.2% annually right now. Feel free to look into short-term CDs but the interest rates are all trash right now.
Why do you need the cash to be pretty liquid? What is the reasoning here?
The reason I ask is because w/o reading your other threads or understanding the background, you are missing out on opportunity cost. You should try to have *some* exposure, even if its not great, because it gives you the ability to make (and lose) money when the market moves. Investing something like 10-20% of your account into a lower-risk portfolio (i.e. something like wealthfront on the lowest risk setting), or an index fund, does expose you, but only 10-20% of your net worth, and if you can handle waiting, it will often come back.