News Corporation Class B - NWS STOCK NEWS

In July 2020, the national median home price surged nearly to $350,000, reflecting an 8.5% year-over-year increase, the largest since November 2018. Inventory levels dropped 33% from the previous year, while homes sold in an average of 60 days, consistent with last year's performance. The Northeast outperformed other regions, with 48 out of 50 major metros reporting price gains. However, Miami and Orlando faced declines of -1.5% and -0.9%, respectively, due to COVID-19 impacts. The report highlights a sharp contrast in the housing market's recovery across the U.S. amid the pandemic.

According to a realtor.com HarrisX survey conducted in June, 63% of 2,000 active home shoppers are influenced by their ability to work remotely, with many planning to purchase a home within the next six months. 40% of remote workers expect to buy within four to six months, while 13% cite COVID-19 as a motivating factor. Key desired home features include a home office, garage, quiet location, updated kitchen, large backyard, and open floor plan. Looking ahead, over half of respondents anticipate continuing some form of remote work post-COVID.

The U.S. Housing Market has rebounded from the COVID-related disruptions, reaching pre-pandemic growth levels for the first time. The realtor.com® Housing Recovery Index rose to 101.0 points, indicating a 2.5% gain over the previous week. Demand has surged since early May, with median listing prices growing 9.1% year-over-year. However, the market faces challenges with total inventory down 33% compared to last year, and new listings falling 15%. Regions like the Northeast and West show notable recovery, while the South and Midwest continue to struggle.

Realtor.com®'s HarrisX survey reveals that homebuyers remain focused on key features, like three bedrooms, two bathrooms, and garages, despite COVID-19's impact. The survey of 2,000 prospective buyers shows over one-third are more optimistic about purchasing a home post-COVID. Many benefit from lower mortgage rates, with 75% changing their home search criteria. Notably, 84% prefer move-in-ready homes, rising from 74%. However, there are signs of financial caution, with fewer buyers planning to offer above asking price or large cash deposits.

According to realtor.com®'s Weekly Recovery Report for July 11, 2020, the U.S. housing market is nearing pre-COVID levels, with the Housing Market Recovery Index at 98.5, just 1.5 points below the baseline. The Western region leads recovery, while the South and Midwest are lagging. New listings dropped by 19% YoY, and total inventory fell 32%. Despite limited inventory, median listing prices rose by 7.9% YoY. The time on market has improved, with homes selling just 1 day slower than last year.

CB Insights has acquired the data assets of VentureSource from Dow Jones, significantly enhancing its private company data offerings. This acquisition adds comprehensive information on venture-backed companies, including private valuations and management details, dating back to 1983. The new data will empower clients to identify partnership opportunities and analyze venture capital trends more effectively. Additionally, CB Insights has established a licensing agreement with Dow Jones to share a subset of research reports through Factiva. This move further solidifies CB Insights' position in the technology market.

Veterans United Home Loans and realtor.com have announced the $100K Veteran Homebuyer Giveaway to support U.S. military veterans and service members. This is the seventh collaboration promoting homeownership for veterans. The giveaway runs from July 9 to September 9, 2020, with a winner receiving $100,000 to assist in home purchase transactions. Eligible participants can enter through the official site www.realtor.com/100k-sweepstakes. The initiative underscores the commitment to enhancing the lives of veterans.

The summer home buying season has surged, with realtor.com® recording an all-time high of 86 million unique users in June 2020. The realtor.com® Housing Market Recovery Index reached 97.8, the largest weekly increase since its inception. Notably, total listings are down 31% year-over-year, contributing to a seller's market. Despite rising buyer confidence due to low mortgage rates, the limited supply of homes poses challenges for sustained sales growth. Key markets like Boston and San Francisco show significant recovery, while overall median listing prices have increased by 6.2% from last year.

According to Realtor.com's June Monthly Housing Trends report, the U.S. housing inventory fell by 27.4% year-over-year, amounting to 363,000 fewer homes available. New listings decreased by 19.3%, though this shows improvement over April and May declines. Major metros outperformed, with total inventory down 26.5% and new listings down 16.2%. Listing prices rose 5.7% year-over-year in these markets. The typical home spent 72 days on the market, reflecting varied recovery trends across different regions.