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News Corporation operates as a global diversified media and information services company with businesses in information services and news, digital real estate services, and book publishing. Company updates commonly address earnings performance across Dow Jones, Digital Real Estate Services and HarperCollins, as well as advertising trends, subscription and professional information products, and capital allocation through share repurchases.
News from its operating businesses also includes Realtor.com housing-market research and platform collaborations, HarperCollins title and imprint activity, and content relationships tied to artificial intelligence. News Corp operates primarily in the United States, Australia and the United Kingdom, while distributing its content, data products and publishing catalog worldwide.
According to a recent survey by realtor.com, homeownership remains a key aspiration for millennials, despite challenges such as rising prices and limited inventory. The HarrisX survey of over 800 prospective first-time buyers revealed that 59% aspire to homeownership primarily for investment purposes. Many are searching for over a year, with 44% citing insufficient down payment funds as a barrier. Notably, location is the top desired feature among buyers, while 53% anticipate competition in the housing market. This underscores the ongoing struggle for potential homeowners amid growing demand and limited supply.
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The U.S. housing market has thrived amid the pandemic, with realtor.com®'s Housing Market Recovery Index reaching 101.6 as of March 6, 2021. Median listing prices surged by 14.3% year-over-year, while new listings fell 27% compared to the previous year. Overall active inventory dropped by 51%. Despite strong demand, a limited supply continues to challenge the market dynamics. Chief Economist Danielle Hale indicates that while the demand remains robust, rising mortgage rates may test buyer interest, particularly as the vaccine rollout could encourage more sellers to enter the market.
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According to a recent analysis by realtor.com®, buying a home is becoming more affordable in many of the nation's largest cities, despite rising home prices. In January 2021, 15 out of the 50 largest metros had buying costs that were equal to or cheaper than renting, up from 13 a year prior. The monthly cost of purchasing a median-priced home rose only 0.2% year-over-year to $1,988, while renting increased 2.4% to $1,727. Notably, markets like Cleveland and Chicago showed lower median listing prices making buying preferable, whereas tech hubs like San Jose saw higher costs associated with buying.
HarperOne announced the publication of AMERICAN PORTRAIT: The Story of Us, Told by Us on June 15, 2021, as a companion book to the PBS documentary series. This project captures the experiences of 14,000 Americans from diverse backgrounds during a historic year. Judith Curr, President of HarperOne, noted its growing significance during 2020's turbulent events. The book, featuring over 400 stories and priced at $29.99, showcases reflections on family, challenges, and dreams, resonating with the nation's spirit.
Creatd, Inc. (Nasdaq CM: CRTD) announced a partnership with Decider.com to launch the "If This, Then That" Vocal Challenge. This initiative invites creators to submit recommendations for streaming content, enhancing engagement with audiences. Decider aims to help viewers discover top shows and movies. The challenge offers substantial cash prizes: $10,000 for first place, $2,500 for second, and $1,000 for third. The challenge is open for submissions until March 30, 2021. This collaboration exemplifies Creatd's ongoing commitment to community engagement through innovative platforms.
The realtor.com® Monthly Rental Report released on February 18, 2021, indicates a shift in rental trends as renters favor smaller markets with quality amenities. The U.S. median rent rose by 0.8% to $1,442 in January 2021, marking a potential floor for growth. Notably, New Orleans saw an 18.2% increase in median rent, while tech hubs like San Francisco experienced significant declines, including -12.6%. The report highlights that remote work flexibility is driving demand toward affordable markets, with several smaller cities witnessing double-digit rent increases.
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