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U.S. Housing Market Faces 4 Million-Home Shortage--Realtor.com® Calls on Lawmakers to Let America Build
Prnewswire· 2025-03-10 17:30
Core Insights - The U.S. is facing a housing shortage of nearly 4 million homes due to over a decade of underbuilding, which is making homeownership increasingly unattainable for many Americans [1][4][6] - Realtor.com® has launched the "Let America Build" campaign to advocate for solutions that expand housing supply by addressing regulatory barriers and promoting pro-building policies [5][6] Construction and Supply Trends - In 2024, home completions reached 1.6 million, the highest in nearly two decades, with new construction activity outpacing household formations for the first time since 2016 [2][6] - Despite these gains, the nation still has a supply shortfall of 3.8 million homes, which is the third-largest annual gap since 2012, and at the current pace, it would take approximately 7.5 years to close this gap [2][7] Demographic Impact - Rising housing costs and limited availability have led many young adults, particularly Millennials and Gen Zers, to live with family or roommates, resulting in an estimated 1.63 million "pent-up" households that did not form in 2024 [3][4][6] Regional Analysis - The South experienced the most significant improvement in its housing gap, reducing it by 24.9%, although it still requires 1.15 million units [9] - The West saw a 13.4% reduction in its housing gap, while the Midwest only managed a 2.4% reduction, and the Northeast's gap widened by 1.2% [9] Industry Response - Realtor.com® is collaborating with industry leaders, policymakers, and housing advocates to push for actionable changes that will expedite home construction and address the housing crisis [5][6] - The company hosted discussions at the South by Southwest festival to explore innovative solutions for the housing supply and affordability crisis [10]
What Makes a Market Hot? Realtor.com Finds Homes in the Most On-Demand Markets Spend Two to Four Weeks Less on Market
Prnewswire· 2025-03-06 11:00
Over the last 17 months, only Northeast and Midwest markets have ranked in the top 20 hottest housing markets in the countryAUSTIN, Texas, March 6, 2025 /PRNewswire/ -- While the real estate market nationally has been moving towards a period of moderate demand, the hottest markets in the U.S. buck that trend with low days on market, growing median list prices and a lower share of price reductions. According to the Realtor.com® February Hottest Markets Report, homes in the hottest markets spent between 33 an ...
Increased Price Reductions Could Give Buyers More Room to Negotiate This Spring
Prnewswire· 2025-02-27 11:00
Core Insights - The housing market is showing signs of adjustment, with an increase in homes experiencing price reductions, rising to 16.8% from 14.6% year-over-year [1][7] - Newly listed homes have increased by 4.2% compared to last year, marking the highest February activity since 2021 [1][2] - The median home listing price has decreased to $412,000, reflecting a year-over-year decline [2][7] Market Trends - Sellers are becoming more active in the market, with a notable increase in new listings, while the market is moving towards a more balanced state with rising inventory [2][8] - The average time homes spend on the market has increased for the 11th consecutive month, averaging 66 days, which is still faster than pre-pandemic levels [6][7] - The South and Midwest regions have seen the most significant increases in time on the market, averaging an additional seven and eight days, respectively [6] Regional Insights - In the Washington, D.C. area, price reductions have increased by 2.3 percentage points compared to last February, aligning with national trends [5] - The median list price per square foot in Washington, D.C. has also declined year-over-year, indicating a broader market adjustment [5] Employment Impact - There is currently no clear connection between federal employment changes and housing market trends, although potential future impacts are acknowledged [3][4] - The health of local housing markets is often linked to the local labor market, and the effects of federal workforce reductions may depend on the private sector's ability to create new job opportunities [3]
Breaking Ground: Realtor.com® Drives Conversations to Tackle America's Housing Shortage at SXSW
Prnewswire· 2025-02-26 11:00
Core Insights - The U.S. is facing a significant housing crisis with an estimated shortage of approximately 4 million homes, leading to intense competition and high costs for buyers [1] - Realtor.com® is organizing three panels at SXSW to address the inventory crunch and explore potential solutions for the future of housing [1] Event Details - The event will take place on March 8 and March 10, 2025, at two different locations in Austin, Texas [2] - A meet and greet reception will be held on both days, with RSVP details provided for attendees [2] Speaker Lineup - Notable speakers include Kirk Watson (Mayor of Austin), Graeme Waitzkin (COO of ICON), John Ho (CEO of Landsea Homes), and Danielle Hale (Chief Economist at Realtor.com®) among others [4] - The panels will cover topics such as future-proof housing, lessons from Texas on solving the housing crisis, and addressing the missing homes in America [4] Company Background - Realtor.com® has been a pioneer in the digital real estate marketplace for over 25 years, providing resources for consumers and professionals to navigate the housing market [3] - The platform aims to empower users by breaking down barriers and offering expert insights and guidance [3]
Renting is Still More Affordable than Buying in All but Two Major U.S. Metros
Prnewswire· 2025-02-18 11:00
Core Insights - The average U.S. median asking rent has reached $1,703, showing a slight decline of 0.2% year over year, indicating a trend towards more affordable renting options in most metropolitan areas [1][9] - Renting remains more affordable than buying in all major U.S. metros except for Detroit and Pittsburgh, where lower median listing prices make purchasing a home more economical [2][4] - Despite the decline in rents, January 2025's rent is still $257 (16.1%) higher than January 2020, reflecting lingering effects from rapid rent growth in 2021 and 2022 [3][9] Rental Affordability Trends - Most metropolitan areas have become more renter-friendly, with a notable increase in renter households expected and a decline in the homeownership rate anticipated for 2025 [2] - The report highlights that in three metros—New York, San Jose, and Detroit—the share of income spent on both renting and buying is increasing, making these areas less favorable for both renters and buyers [5] - Kansas City is identified as a metro becoming more buyer-favoring, where a higher share of income is spent on rents compared to buying [6] Year-over-Year Changes - The report provides a detailed analysis of various metros, showing changes in the percentage of income spent on renting and buying. For instance, Baltimore saw a 2.2% increase in income spent on buying while rent decreased by 0.4% [7] - The national rental data for January 2025 indicates that studio rents are at $1,423, 1-bedroom at $1,585, and 2-bedroom at $1,887, with respective year-over-year changes of 0.0%, -0.1%, and -0.2% [9][10] Market Comparisons - The report compares the affordability of renting versus buying across the 50 largest metropolitan areas, revealing that Atlanta has a median rent of $1,565 with a 2.9% decrease, while Boston's median rent is significantly higher at $2,925 with a 0.5% increase [10][11] - Notably, Detroit's median rent is $1,313, reflecting a 1.3% increase, while Pittsburgh's median rent is $1,431, showing a 0.2% increase, both indicating a more favorable buying environment [11]
News (NWS) - 2025 Q2 - Quarterly Results
2025-02-14 21:14
Revenue Growth - Second quarter revenues increased 5% to $2.24 billion, up from $2.14 billion in the prior year, driven by growth in Digital Real Estate, Book Publishing, and Dow Jones segments [3]. - Total revenues for the three months ended December 31, 2024, were $2,238 million, compared to $2,135 million in the prior year, representing an increase of approximately 4.8% [41]. - Adjusted total revenues for the three months ended December 31, 2024, were $2,225 million, representing a 4% increase from $2,135 million in 2023 [53]. - For the six months ended December 31, 2024, total revenues were $4,334 million, up from $4,166 million in the prior year, reflecting a 4% increase [64]. - Adjusted total revenues for the six months ended December 31, 2024, were $4,295 million, a 3% increase from $4,166 million in 2023 [56]. Net Income - Net income from continuing operations surged 58% to $306 million, compared to $194 million in the prior year [8]. - Net income attributable to News Corporation stockholders for the three months ended December 31, 2024, was $215 million, compared to $156 million in the prior year, an increase of about 37.9% [41]. - For the six months ended December 31, 2024, net income attributable to News Corporation stockholders from continuing operations was $346 million, an increase from $184 million in the same period of 2023, representing an 88% increase [59]. Segment Performance - Total Segment EBITDA rose 20% to $478 million, up from $400 million in the prior year, with strong contributions from all operating segments [9]. - Book Publishing revenues grew 8% to $595 million, with Segment EBITDA increasing 19% due to strong physical and digital book sales [20]. - The Dow Jones segment reported adjusted revenues of $599 million for the three months ended December 31, 2024, a 3% increase from $584 million in 2023 [53]. - Digital Real Estate Services segment revenues increased by 13% to $930 million for the six months ended December 31, 2024, compared to $822 million in the same period of 2023 [64]. - The Digital Real Estate Services segment generated adjusted revenues of $470 million for the three months ended December 31, 2024, a 12% increase from $419 million in 2023 [53]. Digital Transformation - Digital revenues at Dow Jones represented 81% of total revenues, up from 78% in the prior year, indicating a shift towards digital [12]. - Total average subscriptions to Dow Jones' consumer products increased 9% to over 5.9 million, with digital-only subscriptions growing 13% to over 5.3 million [14]. - As of December 31, 2024, News Corp Australia had 1,126,000 digital subscribers, an increase from 1,051,000 in the prior year, representing a growth of approximately 7.1% [30]. - The Times and Sunday Times had 616,000 digital subscribers as of December 31, 2024, up from 575,000, indicating a growth of about 7.1% [30]. Cash Flow and Financial Position - Free cash flow for the six months ended December 31, 2024, was $121 million, an increase from $97 million in the prior year, primarily due to higher cash provided by operating activities [28]. - Cash and cash equivalents at the end of the period were $1,751 million, compared to $1,707 million at the end of the previous year [45]. - The company reported a net cash provided by operating activities from continuing operations of $278 million for the six months ended December 31, 2024, compared to $251 million in 2023 [45]. Divestitures and Strategic Moves - The company announced the agreement to sell Foxtel to DAZN for A$3.4 billion, aimed at simplifying operations and focusing on key growth areas [5]. - The company entered into an agreement to sell the Foxtel Group for A$574 million in outstanding principal, with a minority equity interest of approximately 6% in DAZN [32]. Advertising and Circulation - Circulation and subscription revenues for the consolidated results increased by 3% to $1,488 million for the six months ended December 31, 2024, compared to $1,449 million in the prior year [64]. - Advertising revenues for the consolidated results decreased by 2% to $706 million for the six months ended December 31, 2024, compared to $723 million in the same period of 2023 [64].
News Corporation: Deserves An Upgrade On Improving Bottom Line
Seeking Alpha· 2025-02-06 18:24
Group 1 - News Corporation shares increased by 5.3% in after-hours trading on February 5th, following a 1.2% rise during the trading day, indicating strong upside momentum [1] - The company is part of a sector focused on cash flow generation, which is critical for identifying value and growth prospects [1] Group 2 - Crude Value Insights provides an investing service that includes a 50+ stock model account and in-depth cash flow analyses of exploration and production (E&P) firms [2] - Subscribers have access to live chat discussions regarding the oil and gas sector, enhancing community engagement and information sharing [2]
News (NWS) - 2025 Q2 - Quarterly Report
2025-02-06 11:55
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35769 _________________ ...
IT INTELLIGENT TREATMENT UNVEILS SOMACELL™ AT NYC LAUNCH EVENT WITH PAGE SIX
Prnewswire· 2025-02-04 14:00
Core Viewpoint - IT Intelligent Treatment has launched SomaCell™, a revolutionary non-surgical facelift treatment, ahead of NY Fashion Week, showcasing its potential to disrupt the medical aesthetic industry [1][2]. Company Overview - IT Intelligent Treatment is a premier medical and wellness clinic located on Billionaires Row in New York City, specializing in patient-centered regenerative treatments and advanced medical aesthetics [5]. - The clinic also serves as a certified training center for medical professionals, ensuring high standards in aesthetic medicine [5]. Product Details - SomaCell™ is a novel, pain-free non-surgical face lifting treatment that repairs and restores facial contours without using heat, thus avoiding dermal damage [2][4]. - The treatment is designed for patients of all adult ages, genders, ethnicities, and lifestyles, providing excellent results for both prevention and rejuvenation [2]. - SomaCell™ penetrates through all skin layers to address connective tissue issues such as laxity, wrinkles, and sagging, differentiating it from traditional technologies that rely on heat [4]. Event Highlights - The launch event allowed guests to interact with the SomaCell™ device and learn about its US Trademarked process, emphasizing its revolutionary non-surgical results [2]. - Elana Fishman from Page Six led a Q&A session discussing advancements in skincare technology brought by SomaCell™ [2].
The New Year Brings More Inventory to the Market
Prnewswire· 2025-01-30 11:00
Core Insights - January 2025 saw a significant increase in seller activity, with newly listed homes rising 37.5% month-over-month, indicating a potential shift in the housing market dynamics despite high mortgage rates [1][8] - The increase in new listings is attributed to various factors, including the need for families to adapt to life changes and a reduction in the lock-in effect, which may lead to more seller movement by the end of the year [2] National Housing Metrics - The median listing price decreased by 2.2% to $400,500 compared to January 2024, while it increased by 38.4% compared to January 2019 [2] - Active listings rose by 25.3% year-over-year, but were down by 25.3% compared to January 2019 [2] - New listings increased by 10.8% compared to January 2024, but were down by 18.0% compared to January 2019 [2] - The median days on market increased by 5 days to 73 days compared to January 2024, but decreased by 8 days compared to January 2019 [2] - The share of active listings with price reductions rose to 15.6%, an increase of 0.9 percentage points from January 2024 [2] - The median list price per square foot increased by 1.2% compared to January 2024 and by 54.9% compared to January 2019 [2] Seller Activity Trends - Newly listed homes were 10.8% above last year's levels, marking the highest January level since 2021 [3] - The share of mortgage holders with a rate under 6% fell to 83%, down from 88% a year ago, and is expected to decline to 75% by the end of 2025 [3] - Annual inventory grew for the 15th consecutive month, with 24.6% more homes actively for sale compared to January 2024 [3] Price Reduction Trends - The share of listings with price cuts increased to 15.6% in January 2025, up from 14.7% in January 2024 [4] - The top markets with the highest share of price reductions included Jacksonville (24.3%), Tampa (24.8%), Orlando (22.3%), Phoenix (25.5%), and Portland (22.1%) [4] Regional Inventory Trends - The South and West regions are leading in closing the inventory gap, with listings growing by 27.2% and 31.0% respectively [5] - The Midwest and Northeast regions saw lower growth rates, with increases of 16.8% and 7.8% respectively [5] - Compared to pre-pandemic levels, the inventory gap is smallest in the South (-10.0%) and West (-13.3%), while the Midwest and Northeast still face significant gaps of -43.6% and -58.1% respectively [5] Active Market Highlights - The most active markets in January 2025 included Denver (+54.8%), Las Vegas (+49.4%), and Tucson (+45.0%) for inventory growth [6]