News Corp Stock Price, News & Analysis

The U.S. rental market is experiencing significant growth, with rental prices reaching a median of $1,633 in August, representing an 11.5% increase year-over-year. Rents have surged in over half of the 50 largest metros, with Tampa leading at a notable 30.6% increase. Demand is fueled by a post-pandemic recovery, as young adults seek new living spaces and homebuyers pause in a competitive housing market. All unit sizes, including studios, one-bedrooms, and two-bedrooms, saw price increases, resulting in record high rents across the nation.

News Corp announced that CEO Robert Thomson will speak at the Goldman Sachs 30th Annual Communacopia Conference on September 22, 2021, at 3:45 PM EDT. A live webcast of the session will be available on the News Corp website, with a replay expected for a short period thereafter. News Corp operates across various media sectors, including digital real estate and news services, primarily in the United States, Australia, and the United Kingdom.

The August housing report from Realtor.com indicates a shift in the U.S. housing market, with signs of increased competition among sellers. The overall inventory dropped 25.8% year-over-year, but new listings rose 4.3%. Adjustments to listing prices grew to 17.3%, marking a significant change. The median listing price increased to $380,000, an 8.6% rise from last year. Homes are selling faster, averaging 39 days on the market. Despite high demand, especially for entry-level homes, many sellers are revisiting pricing strategies as buyer competition becomes more intense.

According to Realtor.com®'s Monthly Rental Report, buying a starter home is now cheaper than renting in 24 of the 50 largest U.S. metros. Notably, Birmingham, AL, leads with a 33.1% cost difference. Rents surged by 9.8% year-over-year, with median monthly rents reaching $1,802 for two-bedrooms. First-time homebuying appears advantageous, with monthly starter home payments averaging 15.5% lower than rents in nearly half the major markets, despite rising home prices and limited inventory. Key metros for affordable buying include St. Louis, Pittsburgh, and Orlando.

The 2021 Hottest ZIPs in America report reveals that homes in the top 10 ZIP codes are selling three times faster than last year, with an average of just six days on the market. Key factors driving demand include affordable prices, ample space, and proximity to amenities. The median asking price in the top 10 is significantly lower than national averages, with ZIP 80916 in East Colorado Springs listed at $318,000. The report highlights increasing millennial homeownership rates in suburban areas, showcasing opportunities for buyers seeking value and space.

The July housing market saw a positive shift for first-time buyers as new listings rose for the fourth consecutive month, reflecting a growing inventory of smaller homes. Although overall homes for sale declined 33.5% year-over-year, the rate of decline is decreasing. The U.S. median listing price remained stable at $385,000, up 10.3% year-over-year, but price moderation is noted due to more affordable options entering the market. The typical home spent 38 days on the market, marking a significant reduction from previous years, indicating a return to more seasonal trends.

News Corporation reported fiscal year 2021 revenues of $9.36 billion, a 4% increase, with a remarkable 30% growth in Q4. Net income rose to $389 million, reversing a prior year loss of $1.55 billion. Significant gains were noted in Digital Real Estate, Book Publishing, and Dow Jones segments, alongside record digital subscriptions. Foxtel saw a 155% rise in paid streaming subscribers. The company’s cash position improved to $2.2 billion, prompting a focus on buybacks and strategic growth opportunities.