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You may not use Cheats, automation software (bots), mods, hacks, or any other unauthorized third-party software, to modify or automate any Subscription Marketplace process.
http://store.steampowered.com/subscriber_agreement/
Yup this is what I read. Therefore, using the stam API to do such thing would lead me to the same result, right ?
For more precision, the program itself would just retrieve data, not perform any other actions such as automating the process of listing items.
If you make an app or a program that just checks stuff with the API but doesn't actually do anything to steam beyond that API it should be fine. (I could be wrong about all this)