News Corp Stock Price, News & Analysis

Realtor.com®, on May 11, 2022, announced a significant expansion of its Seller's Marketplace, now featuring new offerings from Flyhomes, Orchard, Reali, and Swift Home Solutions. The platform has experienced a remarkable growth in user traffic, increasing by over 300% year-over-year. This marketplace allows homeowners to compare various selling options with no upfront cost, enhancing their ability to make informed decisions. With this addition, Realtor.com® solidifies its position as a comprehensive resource for home sellers amidst a competitive market.

In April 2022, the U.S. housing market showed signs of recovery with a minimal decline in active listings of -12.2% year-over-year, the smallest since December 2019. The share of mid-sized homes increased, potentially enhancing options for families looking to upgrade. Despite challenges with high prices and mortgage rates, experts predict possible inventory growth soon. The median home price reached an all-time high of $425,000, up 14.2% year-over-year. However, new listings fell slightly by 0.9%, signaling ongoing market adjustments.

News Corporation reported record financial results for Q3 Fiscal 2022, with revenues of $2.49 billion, a 7% increase year-over-year. Net income rose 8% to $104 million, while Total Segment EBITDA saw a significant 20% increase to $358 million. The earnings per share (EPS) improved to $0.14, compared to $0.13 the previous year. Notable growth was seen in digital subscriptions and advertising revenues, particularly at Dow Jones, which experienced 16% growth and continued gains in digital subscribers, reflecting a shift towards digital transformation.

In Q1 2022, 40.5% of home buyers on Realtor.com® showed interest in out-of-state listings, up from 36.4% in 2021. Top relocation destinations included El Paso, Albuquerque, and Washington, D.C. The shift is attributed to rising affordability concerns and increased remote work flexibility. Despite surging demand, listing prices in many top destinations remain below the national average of $206 per square foot. Notably, McAllen, Texas, offered the most affordable price at $125 per square foot, even as out-of-state interest surged, particularly from northern cities like New York.

News Corp will announce its third quarter Fiscal 2022 results on May 5, 2022. CEO Robert Thomson and CFO Susan Panuccio will discuss the earnings during a call at 5:00 p.m. EDT, with a listen-only option for reporters. The earnings release will be available before the call at investors.newscorp.com. News Corp is a diversified media company involved in digital real estate, subscription video, news services, and book publishing, primarily operating in the U.S., Australia, and the U.K..

U.S. rental prices surged to a record high of $1,807 in March 2022, reflecting a 19.3% increase since March 2020. Sun Belt metros dominated the fastest rental growth, with Miami leading at 58.0%. The analysis shows a shift as renters leave expensive tech hubs for affordable areas, with demand outpacing supply amid low vacancy rates. Despite recent moderation in rent growth, challenges remain due to rising inflation and stagnant income growth, potentially limiting renters' affordability. Large tech cities recorded slower rent increases, yet still command high prices.

Realtor.com is donating $100,000 to the Homeownership Council of America’s Equity Down Payment Assistance Fund, aimed at supporting BIPOC and low to moderate-income homebuyers. The initiative, launched in April 2022 for National Fair Housing Month, includes a challenge for real estate companies to match donations up to $100,000 until June 30, 2022. Homeownership rates reveal significant disparities, with blacks at 43.1% and whites at 74.4%. The program will help tackle barriers to homeownership, focusing on down payment affordability.

In March 2022, U.S. home prices reached an all-time high of $405,000, marking a 13.5% year-over-year increase. Despite high prices, demand is moderating as buyers face affordability challenges. Inventory is expected to improve in June or July due to increased new construction and less aggressive buyer competition. March saw an 18.9% decline in active listings compared to last year, but the rate of decline is slowing. Homes sold faster, averaging 38 days on the market, 11 days less than last year, indicating potential relief for buyers.