News Corporation - NWSA STOCK NEWS

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.

Realtor.com® has appointed Bryan Ellis as chief revenue officer and Arthur Chapin as its first chief growth officer to propel company growth. This announcement was made on March 30, 2022, with both executives reporting to CEO David Doctorow. Ellis, formerly of Angi, will focus on revenue operations, while Chapin will spearhead expansion into the rental and new homes markets. Their leadership aims to enhance technologies and services for consumers and partners, positioning Realtor.com® for continued success in the real estate sector.

In February 2022, U.S. rents soared by 17.1% year-over-year, reaching a new median of $1,792 per month, accounting for 30% of household budgets. Areas like Miami and San Diego are among the least affordable, with Miami's rents spiking by 55.3%. The report highlights a growing affordability crisis, especially in the Sun Belt, where many households face pressures from rising rental prices and mortgage rates. Despite the surge, some Middle America markets remain affordable, with rents under 30% of income. Overall, rising demand continues to outpace rental supply.