News Corporation - NWSA STOCK NEWS

Realtor.com has launched an innovative AI-powered experience, enabling users to create a digital representation of their dream home. This tool works by allowing participants to enter descriptive prompts, which the AI then uses to generate a computer-based image in seconds. Additionally, the experience searches through hundreds of thousands of Realtors.com listings to find real homes that closely match the user's vision. As part of this launch, Realtor.com is hosting an AI Dream Home Sweepstakes, where one winner will receive design plans for their dream home and $2,500 in cash. The sweepstakes began on April 17, 2023, and aims to enhance the home search experience by integrating creative design with real estate listings.

Rent. has entered into a rental content listing distribution agreement with Realtor.com®, enhancing the reach of its RentMarketplace. listings. This innovative collaboration allows multi-family properties to access listings on Realtor.com® and other platforms like Rent.com, ApartmentGuide.com, Rentals.com, and Redfin.com. CEO Jon Ziglar emphasized the significant value this agreement brings to clients by connecting them with a larger audience, estimated at over 350 million visits monthly. Realtor.com® will integrate Rent.'s rental listing data, providing a more comprehensive experience for renters. This alliance aims to improve the rental experience and drive increased leads for landlords and property managers.

The latest Realtor.com® Monthly Housing Trends Report highlights a moderate rebound in buyer activity during March 2023, with active listings up by 59.9% year-over-year. However, new listings decreased by 20.1%, impacting overall supply. The national median listing price rose 6.3% to $424,000, yet the pace of price increases is slowing. Homes are selling faster than at the beginning of the year, averaging 54 days on the market. Despite the increase in active listings, total listings remain 49.6% below pre-pandemic levels. Buyers show sensitivity to mortgage rates, and higher financing costs may hinder further market recovery.

The February 2023 Rental Report by Realtor.com reveals that while median rent in the 50 largest U.S. metros has slightly declined to $1,716, affordability worsens, with typical renters spending 25.3% of their income on housing, up from 24.8% last year. Eight metros, including Miami and Los Angeles, see over 30% of income spent on rent. Despite a slowdown in rental price growth over the past year, rents remain significantly higher than pre-pandemic levels, increasing by 20.8% since 2020. The report highlights that affordability is deteriorating but at a slowing pace in many markets.

The American Australian Association has officially opened its new headquarters, named the Murdoch Center, in New York City, commemorating 75 years of U.S.-Australia relations. Established by Sir Keith Murdoch in 1948, the Center aims to strengthen ties through cultural and economic initiatives. The launch event featured notable attendees, including U.S. Ambassador Caroline Kennedy and Australian Ambassador Arthur Sinodinos, supported by significant grants from News Corp and Fox Corporation. The Center will also enhance scholarship programs, having awarded over US$15 million to scholars and artists, fostering collaboration across the two countries.

The U.S. housing market shows signs of recovery with active inventory increasing by 67.8% year-over-year in February, the sixth consecutive month of record growth. Major cities like Austin, Las Vegas, and San Antonio have surpassed pre-pandemic inventory levels. However, despite this increase, home prices continue to rise, albeit at a slower rate of 7.8%. With fewer homeowners listing their properties, sellers may need to adjust their expectations as homes are now taking over 67 days to sell, three weeks longer than last year.

Overall, the supply surge is primarily driven by reduced buyer interest due to high costs, leading to more price reductions.

News Corp has announced that its Chief Executive, Robert Thomson, will participate in the Morgan Stanley Technology, Media & Telecom Conference on Tuesday, March 7, 2023, at 2:40 PM PST. Investors and interested parties can listen to the live webcast through the News Corp website, with a replay expected to be available afterward. News Corp operates as a global, diversified media company focused on creating and distributing engaging content, with operations primarily in the United States, Australia, and the United Kingdom. More information can be found at News Corp's official website.