News Corp - NWSA STOCK NEWS

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.

SANTA CLARA, Calif., June 30, 2020 /PRNewswire/ -- Realtor.com has appointed Mickey Neuberger as its new Chief Marketing Officer. Neuberger brings over 25 years of experience from notable companies like eBay, where he achieved significant growth in marketing performance. Reporting to CEO David Doctorow, Mickey aims to enhance realtor.com's marketing strategy, focusing on making the home buying and selling process easier and more rewarding. His background includes a BS in Computer Science and a BA in Economics, along with an MBA from UC Berkeley.

The U.S. luxury housing market showed resilience in May 2020, with searches for million-dollar homes increasing by 7.3% year-over-year. Despite ongoing inventory challenges, luxury listing prices rose to an entry point of $2.97 million, reflecting a 0.5% increase from April and 6.1% year-over-year. Notably, the luxury sector led overall median price growth, which was 1.6% year-over-year in May. Areas like The Hamptons and Palm Springs saw significant increases in property views, demonstrating an interest shift towards second homes.