News (NWSA) Stock News

Summary not available.

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.

Summary not available.

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.

News Corp has agreed to acquire the Oil Price Information Service (OPIS) and related assets from S&P Global and IHS Markit for $1.150 billion. This acquisition aims to enhance Dow Jones’ Professional Information Business, offering nearly 100% digital and 95% recurring revenue streams with over 50% Adjusted EBITDA margins. OPIS, a leader in energy pricing and analytics, reported expected revenues of $129 million for its current fiscal year. The deal is subject to customary approvals, with an anticipated tax benefit of $180 million.

The Realtor.com Investor Report reveals that in 19 of the 50 largest U.S. markets, investors are contributing to housing inventory, notably in Atlanta, Dallas, and Baltimore. In April 2021, these areas saw significant increases in homes for sale, counteracting the inventory shortage affecting buyers. Meanwhile, 31 markets, including Phoenix and Charlotte, experienced a decline in inventory as investors bought more homes than they sold. The report highlights that rising home prices and stagnant rents are influencing investor decisions, with Atlanta's median listing price at $392,000 and a significant inventory drop of 63.4% year-over-year.