News Corporation Class B - NWS STOCK NEWS

Realtor.com® released a report analyzing how population shifts could reshape the political landscape in the 2024 U.S. presidential election. The study used proprietary data on geographic home shopping trends and county-level 2020 election results to predict potential changes. Key findings include:

- Nine states could potentially become bluer, while 22 states could shift redder.
- Three swing states (Arizona, Georgia, North Carolina) could trend redder, while two (Wisconsin, Nevada) could shift bluer.
- Michigan and Pennsylvania show mixed population shifts with no clear direction.
- Florida, Texas, and North Carolina are top destinations for both blue and red out-of-state home shoppers.
- New Jersey attracts more blue shoppers, while Tennessee is favored by red buyers.

The analysis considers factors such as influx rates of blue vs. red shoppers and retention rates of local home shoppers to predict potential shifts in state political leanings.

Realtor.com® has released a new study analyzing the potential impact of falling mortgage rates on various real estate markets. The study focuses on markets with a high percentage of owner-occupied homes with mortgages, which are likely to see the most significant changes. Washington D.C., Denver, CO., Raleigh, N.C., Virginia Beach, VA, and Portland, OR top the list with the highest share of mortgaged homeowners.

Key findings include:

• Markets with high mortgage utilization may be more sensitive to rate changes
• Mortgage rates are expected to stay in the low 6% range through year-end
• New Orleans, LA has the highest share of outright homeownership at 45.8%
• Markets with higher homeownership rates tend to have more outright ownership
• Older homeowners (65+) correlate with higher outright homeownership rates

The study suggests that as mortgage rates decline, real estate activity is likely to increase in markets with high mortgage utilization.

According to the Realtor.com® September Housing Report, newly listed homes increased by 11.6% year-over-year, while actively listed homes rose 34.0%. This significant increase in listings is attributed to mortgage rates hitting a 24-month low following the Federal Reserve's 50 bps rate cut in September.

Key findings include:

• Median listing price decreased 1.0% to $425,000
• Median days on market increased by 7 days to 55 days
• Share of active listings with price reductions increased 0.5 percentage points to 18.4%
• Median list price per square foot increased 2.3% year-over-year and 50.8% compared to September 2019

The report suggests that the 'lock-in' effect, where homeowners with low mortgage rates were reluctant to sell, may be easing. Markets with more expensive homes saw the most growth in new listings, potentially due to the larger impact of falling mortgage rates in these areas.

Realtor.com® has unveiled the top U.S. markets for real estate investment, with Dayton, Ohio leading the list. The top 5 markets are Dayton, Ohio; Rochester, N.Y.; Cleveland, Ohio; Pittsburgh, Pa.; and Knoxville, Tenn. These markets offer strong returns from lower prices and steady demand, with a focus on the Midwest and Northeast regions.

Key findings include:

• Top markets saw nearly double (1.95x) the average page views per property compared to national trends
• Home prices in these markets are 21.7% lower than the national average
• Rental vacancy rates averaged 4.8%, below the national average of 6.6%
• 13.8% of buyers in these markets were investors in Q1 2024

The report analyzed data from the 75 largest U.S. metros, considering factors such as listing prices, views per property, housing stock, and vacancy rates to identify the most promising investment opportunities.

Dow Jones and Operation HOPE have partnered to provide $3.5 million worth of MarketWatch subscriptions to U.S. high schools, benefiting teachers and students. This initiative, part of Dow Jones Smart Money, aims to enhance financial literacy by combining MarketWatch's journalism with Operation HOPE's network. The collaboration addresses the fact that only one in four American students have access to personal finance resources.

The partnership aligns with Dow Jones CEO Almar Latour's vision to make financial literacy more accessible. Mark DeCambre, editor-in-chief at MarketWatch, emphasized the importance of bringing financial information to classrooms. John Hope Bryant, Operation HOPE's founder, highlighted the initiative's role in helping students understand the free enterprise system.

Teachers and administrators can apply for a free one-year subscription for their schools. Additionally, a virtual panel on the election, economy, and markets is scheduled for October 24, 2024.

A new report from Realtor.com reveals that certain phrases in home listings can indicate significant savings for buyers. Nationally, listings with terms like 'Priced to Sell' offer an average discount of nearly $38,000 off the median-priced home. The study found that such 'value' phrases correlate with listing prices 8.5% lower on average than similar homes in comparable neighborhoods.

The impact varies across markets, with discounts ranging from 23.1% in Little Rock, Arkansas, to 3.2% in Orlando, Florida. Southern and Midwestern markets tend to offer the largest discounts. The frequency of these phrases in listings also differs, from 1.9% in Long Island, New York, to 6.7% in Sarasota, Florida. The study suggests that buyers in markets with fewer 'priced to sell' listings may be more sensitive to factors associated with lower prices, such as home condition.

Realtor.com® has launched dynamic map layers, a new set of map-based search features that allow homebuyers to visualize hyperlocal insights and broader neighborhood trends. These layers provide real-time visualizations of property data and neighborhood insights, helping users answer questions like 'Is this house the best deal on the street?' and 'Where can I find the newest homes in a neighborhood?'

The new feature offers a unique zoom and pan experience, with color shading representing aggregated data that adjusts dynamically as users zoom in or out. Users can apply different map layers to access unique Realtor.com® econometric data, including market hotness, home estimates, lot size, year built, and more.

According to a recent survey, 71% of real estate website/app users believe more visual or map-based features could help them learn more about properties and compare homes more easily. The dynamic map layers aim to revolutionize how people search for homes online, providing an interactive and easy-to-understand way to make informed decisions.

Realtor.com's August Rental Report reveals that rental affordability has generally improved in most major U.S. markets. The nationwide median rent decreased by $5 (-0.3%) year-over-year to $1,753. Key findings include:

1. Most affordable rental markets: Oklahoma City, Columbus, and Austin
2. Least affordable markets: Miami, Los Angeles, and New York
3. Nationwide, renters spend 25.1% of income on rent (vs. 25.9% in August 2023)
4. Buying a starter home requires 38.5% of typical household income
5. 39 out of 50 top metros saw improved affordability compared to last year
6. Southern markets experienced the most significant improvements in affordability
7. Midwest markets saw deteriorating affordability due to faster rent growth

The report highlights ongoing challenges in rental affordability, despite improvements in many areas.

Realtor.com's new report, 'New Construction Insights', reveals that South Carolina, North Carolina, and Idaho are leading in new home construction, considering volume, affordability, and future growth. The top ten states for new construction are predominantly in the South and West regions. Nationwide, new home prices are lower than existing homes and have decreased significantly since July 2022. Builders are responding to affordability concerns by constructing smaller, more affordable homes. Homes built in 2024 are 8% smaller (163 sq ft) than those built in 2022. The report highlights a supply shortage of over 7 million single-family homes at the end of 2023, emphasizing the need for new construction to meet housing demand and contribute to economic activity.