News Corp - NWSA STOCK NEWS

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.

Realtor.com forecasts the best week to list homes is from April 10-16, 2022, dubbed Listapalooza, driven by strong buyer demand, high prices, and quick sales. Sellers during this period can expect to achieve asking prices about 10.9% higher than at the year's start, and homes are anticipated to sell significantly faster than in previous years. However, market dynamics may shift due to rising mortgage rates and inflation, impacting future buyer willingness and pricing strategies.

News Corp announced that Chief Financial Officer Susan Panuccio will participate in the Deutsche Bank 30th Annual Media, Internet & Telecom Conference on Monday, March 14, 2022. The session is scheduled to start at 2:20pm EDT. Interested investors can listen to the live webcast on the News Corp website, with a replay available afterward.

As a global, diversified media and information services company, News Corp focuses on creating and distributing content across various sectors, including digital real estate and subscription services.

News Corp announced that CEO Robert Thomson will speak at the Morgan Stanley Technology, Media & Telecom Conference on March 10, 2022, starting at 8:00 AM PST. Investors and interested parties can access the live webcast via the News Corp website. A replay will be available post-conference. News Corp, listed under NWS and NWSA, is a global media and information services company, operating primarily in the US, Australia, and the UK.