News Corp Stock Price, News & Analysis

Realtor.com's December 2021 Housing Report reveals that U.S. home listing prices surged back into double-digit growth, reaching a median of $375,000. This marks a 10% increase from December 2020. Buyer competition is intensifying as mortgage rate hikes loom, pushing buyers to act quickly despite a 26.8% decrease in active listings year-over-year. The report highlights significant price increases in hot markets like Las Vegas and Austin, while overall inventory challenges persisted, signaling possible affordability issues in 2022.

News Corp has announced an agreement to acquire the Base Chemicals business from S&P Global and IHS Markit for $295 million. This acquisition aims to enhance Dow Jones’ information services by integrating Base Chemicals with OPIS, which specializes in energy and renewables data. Base Chemicals, expected to generate $65 million in revenues, offers strong digital and recurring revenue streams. The acquisition is anticipated to strengthen Dow Jones’ competitive position amidst growing demand for chemical pricing and insights in a transitioning energy landscape.

Realtor.com® forecasts the Top Housing Markets of 2022, highlighting areas likely to experience significant home price appreciation and sales growth. Key markets include Salt Lake City, Boise, and Spokane, with projected home sales growth of 11.6% year-over-year, nearly double the national average of 6.6%. The average home price increase in these areas is expected to be 7.4%, substantially higher than the national rate of 2.9%. Factors driving this growth include strong local economies, job opportunities, and the migration of remote workers seeking affordability and quality of life.

Realtor.com®'s 2022 Housing Forecast predicts a competitive market for home buyers as demand from first-time buyers exceeds inventory recovery. Home sales are expected to rise by 6.6% year-over-year, reaching 6.0 million, marking the highest level in 16 years. Listing prices and rents will increase, with rents projected to grow by 7.1% and home prices by 2.9%. While affordability challenges persist, a recovering economy and increased flexibility in work arrangements may help buyers. The homeownership rate is expected to rise to 65.8% by year-end 2022.

News Corp announced that Chief Financial Officer Susan Panuccio will participate in the UBS Global TMT Virtual Conference on Tuesday, December 7, 2021, at 5:00pm EST. Interested parties can listen to the live webcast on the News Corp website, with a replay available afterward. News Corp, listed on Nasdaq under NWS and NWSA, is a diversified media and information services company, engaged in various sectors including digital real estate, subscription video services, and book publishing, primarily in the U.S., Australia, and the UK.

Realtor.com has launched new collaborative features to assist homebuyers in organizing their searches more efficiently. With 70% of first-time buyers shopping as couples, the platform enhances the experience by allowing users to create shared shopping carts and wish lists. The update facilitates easy coordination between partners and invites friends and family for input, ensuring all opinions are centralized for decision-making. A recent survey reveals that 79% of users shop together, with 85% valuing second opinions. The new features are available across various platforms.