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Realtor.com® December Rental Report: Rents Continued to Fall as New Construction Outpaced Rental Demand
Prnewswire· 2025-01-21 11:00
Core Insights - National rents have declined for the 17th consecutive month, with a year-over-year decrease of -1.1% to a median of $1,695, marking the first time since April 2022 that the median rent fell below $1,700 [1][2] - The rental market is moving towards a more balanced state due to strong supply growth, with the nationwide absorption rate at 55%, aligning with 2019 levels [2][3] - Affordable rentals show stronger demand compared to pricier units, with absorption rates of 56.3% for affordable apartments versus 53.8% for more expensive ones [4] Rental Market Trends - The Northeast region has the highest absorption rates, increasing from 58% to 67% year-over-year, while the West saw a decline from 72% to 58% [5][6] - Year-over-year rent declines were reported in eight out of eleven Western markets, with Denver experiencing a significant drop of -5.9% [6] - Overall inflation has risen by 22.8% since 2019, while rents have only increased by 16%, indicating a lag in rent growth relative to inflation [3] Rental Data Overview - The median rents for different unit sizes are as follows: - Overall: $1,695, -1.1% YoY, +16% over 5 years - Studio: $1,419, -1.3% YoY, +11.3% over 5 years - 1-Bedroom: $1,579, -0.9% YoY, +15.9% over 5 years - 2-Bedroom: $1,880, -0.9% YoY, +19.8% over 5 years [7] - Notable year-over-year rent changes in major metropolitan areas include: - Austin, TX: $1,469, -5.0% - Denver, CO: $1,799, -5.9% - Memphis, TN: $1,174, -6.7% [8][9]
Dow Jones Launches The WSJ Leadership Institute
Prnewswire· 2025-01-16 16:00
Core Insights - Dow Jones has launched The WSJ Leadership Institute to address the evolving needs of business leaders, aiming to redefine executive leadership development and peer networking [1][2] - The institute will leverage the resources of Dow Jones and The Wall Street Journal to provide transformative experiences for top-tier business leaders [1][2] Membership and Offerings - The WSJ Leadership Institute will build on existing membership communities, including the WSJ CEO and CCO Councils, and will introduce new communities and resources [2][5] - A daily WSJ CEO Brief newsletter will be launched on February 3, providing insights and commentary on important news for CEOs and business leaders [5] - An invitation-only subset called WSJ CEO Council: Titans will cater to CEOs of public companies with over $10 billion in annual revenue, offering exclusive events and advisory roles [5] Future Plans - The WSJ Leadership Institute plans to introduce new opportunities, events, and resources globally in the coming months [3] - A WSJ Leadership Mentorship Program will be established, pairing executives with experienced leaders through a partnership with The Onyx Group [5] - A new WSJ Top Directors Council will be launched for board members of public companies with annual revenue exceeding $1 billion [5] - A member community for the next generation of C-Suite leaders is set to launch in early 2026 [5]
Rising HOA Dues Add to Homeowners' Affordability Challenges
Prnewswire· 2025-01-15 11:00
Core Insights - The report from Realtor.com® highlights a significant increase in the share and cost of Homeowners Association (HOA) fees in the U.S. housing market, with 40.5% of for-sale listings in 2024 having a nonzero HOA fee, up from 39.2% in 2023, and a median fee rising to $125/month from $110 [1][2]. HOA Fee Trends - The prevalence of HOA fees is notably higher in newly constructed homes, with 69.9% of new builds subject to these fees compared to 37.1% of existing homes [3]. - Condominiums, rowhomes, and townhomes are more likely to have HOA dues, with 83.8% of condos for sale in 2024 having associated fees, while only 33.6% of single-family homes do [4]. Geographic Distribution of HOA Fees - The metropolitan areas with the highest share of for-sale listings subject to HOA dues include: - Edwards, Colorado: 89.9% with a median fee of $525 - Myrtle Beach, South Carolina: 84.8% with a median fee of $138 - Heber, Utah: 83.3% with a median fee of $300 [5][6]. - Conversely, areas with the lowest share of for-sale listings subject to HOA dues include: - Anniston-Oxford, Alabama: 3.8% with a median fee of $29 - Elizabethtown-Fort Knox, Kentucky: 5.0% with a median fee of $19 - Jonesboro, Arkansas: 5.3% with a median fee of $36 [7][8]. Methodology - The report's findings are based on weekly snapshots of all for-sale listings in the U.S. on Realtor.com in 2024 and 2023, focusing on listings with a monthly HOA fee greater than zero [9].
OPIS Launches CAMIRO, A New Turnkey Carbon Market Compliance Solution
Prnewswire· 2025-01-14 14:30
CAMIRO Overview - CAMIRO is a new solution launched by OPIS, a Dow Jones company, designed to help carbon-focused businesses, investors, and traders navigate the energy transition and enhance carbon management and clean-fuels strategies [7] - The tool will initially cover carbon markets in the US, Canada, Latin America, and EMEA regions [1] - CAMIRO will provide weekly reports offering near real-time insights on regulatory developments and carbon compliance costs [3] Features and Capabilities - CAMIRO combines a decade of historical data, sector-level policy analysis, and pricing and modeling for carbon market allowances, offsets, and clean-fuels credits [4] - The tool integrates spot price assessments with policy analysis and price forecasting to help organizations understand and respond to regulatory shifts [5] - It aims to be one of the most comprehensive tools in the market, enabling businesses to stay ahead of regulatory changes and optimize their climate strategies [3][4] OPIS and Dow Jones Background - OPIS, part of Dow Jones's energy business, has a strong track record in delivering pricing, news, and analysis for emissions trading schemes, fuel-related carbon intensity programs, and voluntary carbon markets [8] - Dow Jones is a global provider of news and business information, with a history of over 130 years and a vast news-gathering operation [2] - OPIS has been providing daily price transparency for compliance carbon markets since 2014 and for global voluntary carbon markets since 2020 [8] Market Context - As global carbon regulations become more complex, carbon-intensive businesses require tools like CAMIRO to navigate compliance landscapes across different jurisdictions [4] - OPIS has a long legacy of providing daily pricing in both compliance and voluntary carbon markets through various reports, including the OPIS Carbon Market Report and OPIS Global Carbon Offsets Report [5] Industry Impact - CAMIRO is positioned to help organizations capitalize on carbon market opportunities while understanding and mitigating risks as global regulations evolve [5] - The tool is expected to serve as a one-stop-shop for businesses and investors looking to enhance their carbon and clean-fuels strategies [5]
Three Out of Four Americans View Homeownership as Part of the American Dream
Prnewswire· 2025-01-14 11:00
Core Insights - The American Dream remains vibrant, with 64% of Americans identifying homeownership as a life goal, and 50% viewing it as essential for long-term wealth [1][2] - Homeownership is perceived as a key component of the American Dream, with 75% of Americans supporting this view, particularly among baby boomers at 84% [3] - Younger generations, particularly millennials (69%) and Gen Z (70%), show a strong desire for homeownership as a life goal, surpassing older generations [4] Sentiment Towards Homeownership - A majority of Americans (59%) believe homeownership is achievable, with baby boomers showing the highest confidence at 63%, followed by millennials at 57% [5] - The median age of homebuyers reached an all-time high of 56 years in 2024, which may influence the confidence levels among older generations [6] Wealth Building Perspective - Millennials (53%) and Gen Z (52%) are more likely to view homeownership as necessary for building long-term wealth compared to older generations, with only 45% of baby boomers and 48% of Gen X sharing this belief [7]
SOMACELL™ TO HOST LAUNCH EVENT WITH PAGE SIX AHEAD OF NY FASHION WEEK
Prnewswire· 2025-01-13 18:24
IT Intelligent Treatment Set to Unveil Future of Non-Surgical Facial Regeneration NEW YORK, Jan. 13, 2025 /PRNewswire/ -- IT Intelligent Treatment, a New York based leading medical aesthetic clinic, will host their SomaCell™ launch event on Monday, February 3. The event will feature SomaCell ™, an industry-disrupting innovation in the non-surgical facelift arena and will include an interview lead by Elana Fishman from Page Six Style. Since 2007, SomaCell™ Founder and President Kim Laudati has pioneered pat ...
Realtor.com® Forecasts the 10 Best Markets for First-Time Homebuyers in 2025
Prnewswire· 2025-01-09 11:00
Homeowner Newbies Should Put Harrisburg, Penn., at the Top of their Search List SANTA CLARA, Calif., Jan. 9, 2025 /PRNewswire/ -- For first-time homebuyers, the Mid-Atlantic and Florida are the best places to kickstart their home ownership journey in 2025. That's according to the 2025 Realtor.com® Best Markets for First-Time Homebuyers report, which ranked Harrisburg, Penn., as No. 1 followed by Rochester, N.Y., Villas, Fla., Lauderdale Lakes, Fla., Altamonte Springs, Fla., Lansing, Mich., North Little Roc ...
Holiday Slowdown Arrives in December with Some Silver Linings For Buyers
Prnewswire· 2025-01-08 11:00
Inventory of homes actively for sale grew for the 14th straight month December brought 0.9% more newly listed homes compared to the same time last year Homes spent 70 days on the market, the slowest December in five years SANTA CLARA, Calif., Jan. 8, 2025 /PRNewswire/ -- December 2024 saw a 22.0% growth in homes actively for sale compared with the same time last year, according to the December Monthly Housing Trends Report from Realtor.com®. Miami (45.4%), San Diego (42.4%), and Denver (41.9%) led the w ...
American Homeowners Have More Extra Bedrooms Than Ever, New Realtor.com® Report Reveals
Prnewswire· 2024-12-18 11:00
The trend in increasing number of excess bedrooms is driven by both declining household sizes and by an increase in the number of bedrooms per home SANTA CLARA, Calif., Dec. 18, 2024 /PRNewswire/ -- Although your home might feel tight this holiday season, nationally, the number of extra bedrooms, defined as a bedroom that is in excess of the number of persons in the home, plus one to account for an office, has reached the highest levels in Census record history, according to a new report from Realtor.com® r ...
Realtor.com® November Rental Report: Even with Rent Declines, Minimum Wage Earners Need Extended Hours to Afford Rents
Prnewswire· 2024-12-16 11:00
To afford the median rent, two minimum wage earners would have to each work 82 hours per week in Nashville, Tenn., 79 hours in Austin, Texas and 77 hours in Dallas, three metros that saw the largest decline in rent prices SANTA CLARA, Calif., Dec. 16, 2024 /PRNewswire/ -- Rents declined in November, falling by -1.1% year over year to a median of $1,703, according to the Realtor.com® November Rental Report released today. Despite the dip in rents, affordability remains a concern, with minimum wage earners re ...