News Corp Stock Price, News & Analysis

Realtor.com has partnered with Marvel Studios for the release of Guardians of the Galaxy Vol. 3, providing fans with an interactive experience to explore homes inspired by the film's characters. Launching on April 26, 2023, the initiative allows users to earn fictional currency called "Units" through trivia quizzes, unlocking coordinates to fictional locations from the Marvel Cinematic Universe, including Knowhere and Morag. Users will also find curated collections of homes in the U.S. reflecting the essence of the Guardians. This initiative aligns with the film's theme of transformation and community. The promotion is purely for entertainment and does not offer real-world value.

The March Rental Report by Realtor.com highlights a significant divergence in rental market trends across the U.S. As high-cost markets in the West, including San Francisco and Los Angeles, experience year-over-year price declines of 0.8%, numerous Midwestern cities such as Indianapolis and Cincinnati see rent increases of 10.3% and 9.6%, respectively. Nationally, the median rent for the 50 largest metros has increased to $1,732, reflecting a $15 rise from the previous month but a $32 drop from the peak last year. This indicates a cooling of the rental market after a high growth rate of 16.4% in January 2022. The report also notes the impact of tech layoffs on California's rental prices and emphasizes the affordability factor driving demand in lower-cost regions.

Realtor.com has launched an innovative AI-powered experience, enabling users to create a digital representation of their dream home. This tool works by allowing participants to enter descriptive prompts, which the AI then uses to generate a computer-based image in seconds. Additionally, the experience searches through hundreds of thousands of Realtors.com listings to find real homes that closely match the user's vision. As part of this launch, Realtor.com is hosting an AI Dream Home Sweepstakes, where one winner will receive design plans for their dream home and $2,500 in cash. The sweepstakes began on April 17, 2023, and aims to enhance the home search experience by integrating creative design with real estate listings.

Rent. has entered into a rental content listing distribution agreement with Realtor.com®, enhancing the reach of its RentMarketplace. listings. This innovative collaboration allows multi-family properties to access listings on Realtor.com® and other platforms like Rent.com, ApartmentGuide.com, Rentals.com, and Redfin.com. CEO Jon Ziglar emphasized the significant value this agreement brings to clients by connecting them with a larger audience, estimated at over 350 million visits monthly. Realtor.com® will integrate Rent.'s rental listing data, providing a more comprehensive experience for renters. This alliance aims to improve the rental experience and drive increased leads for landlords and property managers.

The latest Realtor.com® Monthly Housing Trends Report highlights a moderate rebound in buyer activity during March 2023, with active listings up by 59.9% year-over-year. However, new listings decreased by 20.1%, impacting overall supply. The national median listing price rose 6.3% to $424,000, yet the pace of price increases is slowing. Homes are selling faster than at the beginning of the year, averaging 54 days on the market. Despite the increase in active listings, total listings remain 49.6% below pre-pandemic levels. Buyers show sensitivity to mortgage rates, and higher financing costs may hinder further market recovery.

The February 2023 Rental Report by Realtor.com reveals that while median rent in the 50 largest U.S. metros has slightly declined to $1,716, affordability worsens, with typical renters spending 25.3% of their income on housing, up from 24.8% last year. Eight metros, including Miami and Los Angeles, see over 30% of income spent on rent. Despite a slowdown in rental price growth over the past year, rents remain significantly higher than pre-pandemic levels, increasing by 20.8% since 2020. The report highlights that affordability is deteriorating but at a slowing pace in many markets.