$NWS

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March Home Down Payments Drop Amid Buyer-Friendly Market, Redfin Says

Down payments for home purchases in the US decreased in March amid a buyer-friendly market that's reducing pressure on prospective buyers to put down bigger amounts, a report by Redfin showed Tuesday.The typical homebuyer's down payments fell 1.5% year over year to $64,000 in March, according to the online real estate brokerage. In percentage terms, it dropped to 15% from 16.1% a year earlier."Homebuyers are making smaller down payments due to cooling home-price growth, a rise in lower-down-payment loan products, and less pressure to compete in bidding wars," Redfin said. "The buyer-friendly market is reducing pressure on house hunters to make large down payments to strengthen offers in bidding wars."Buyers are being more careful due to higher prices and are diverting funds from the "down payment bucket" towards closing costs or holding it for monthly payments, the report showed.In terms of major metros, down payment percentages were highest in the California markets of San Jose, San Francisco, and Anaheim at 25% each, while those in affordable markets like Virginia Beach and Detroit put down 2% and 5%, respectively, the report showed.In dollar terms, Nashville saw a 27% drop, followed by a 25.3% fall in Atlanta, while Cleveland posted the highest year-over-year gain with a 20.5% surge.Still, down payments have essentially doubled in dollar terms since 2019 due to soaring home prices, according to the report."In percent terms, the typical down payment was 10% for many years pre-2020 before jumping during the pandemic homebuying frenzy and staying somewhat elevated since then," Redfin said.Last month, a report by News Corp's (NWS, NWSA) Realtor.com showed that first-quarter down payment in the US reached its lowest level since 2021 as the housing market slowly shifts toward more buyer-friendly conditions.Price: $30.02, Change: $-0.66, Percent Change: -2.15%

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US Markets26d ago

First-Quarter Down Payment Hits Lowest Since 2021 as Housing Market Tilts Toward Buyers, Realtor.com Says

First-quarter down payment in the US reached its lowest level since 2021 as the housing market slowly shifts toward more buyer-friendly conditions, News Corp's (NWS, NWSA) Realtor.com said Tuesday.The typical down payment dropped 19% year over year to $23,400 in the March quarter, marking the fourth straight quarterly decrease and the lowest level recorded since 2021, according to the online real estate portal."Down payments are falling as the housing market slowly tilts toward buyers," Realtor.com Senior Economist Hannah Jones said. "High prices and borrowing costs continue to test affordability, and while conditions are improving, some of the buyers re-entering the market are doing so via government-backed programs that have lower down payment requirements."In terms of key US regions, the softening in down payments was most pronounced in markets where inventory has recovered most fully and home prices have cooled most, with the South and West seeing the biggest drops. The Northeast continues to be the most competitive market, according to the report.Down payments in the US peaked at $32,700 in the second quarter of 2024 following years of soaring house prices and intense competition, but the pandemic-era highs are now steadily unwinding. Down payments reached their first-quarter high in 2025 with a median of $28,900 and an average of 14% of the purchase price before steadily easing lower, the report showed.The buyer pool is expanding with marginal improvement in affordability, though many are stretching their finances and increasingly relying on government-backed loan programs to finalize their deals, according to the report.Together, Federal Housing Administration and Veterans Affairs loans now account for more than a third of all purchase mortgages, Realtor.com said."Government-backed programs are serving as a critical pressure valve, keeping the door to homeownership open for buyers who might otherwise be shut out entirely," Jones said. "The growing reliance on FHA and VA financing also reflects how much the conventional path to homeownership has narrowed for buyers without significant cash reserves."Price: $30.22, Change: $-0.01, Percent Change: -0.03%

$NWS$NWSA

US Markets31d ago

New-Home Buyer Can Save $25,000-Plus Over Decade Amid Lower Operating Costs, Realtor.com Says

Buyers of new US homes gain a financial advantage during the first decade of ownership, compared with those purchasing existing houses, as energy efficiency and lower maintenance costs help reduce expenses, a report by News Corp's (NWS, NWSA) Realtor.com showed Thursday.A buyer of an average new home can expect to save $25,335 over the first 10 years of ownership, compared with the purchaser of a 20-year-old house. The savings in a newly constructed home are driven by fewer major repairs and lower energy bills, according to a report by the online real estate portal."Homeownership is not a one-time expense, and the ongoing costs of owning a home are where new construction really shines," Realtor.com Senior Economist Joel Berner said.In 16 of the top 300 US metropolitan areas, the cost savings of purchasing new construction over a decade surpass the pricing gap between the median new-construction listing and the median existing-home listing, according to the report."These savings estimates are actually conservative," Berner said. "Builder warranties frequently cover (heating, ventilation, and air conditioning) repairs in the early years, meaning new construction buyers often pay nothing out of pocket."Massachusetts leads the list with $38,927 in new-construction savings over a 10-year period, as New England's strict building codes and harsh winters outperform Southern markets in energy efficiency gains, the report said.Considering the mortgage rate buydowns builders have been offering -- which can translate to about $30,000 in savings over a decade -- the total financial advantage of purchasing new homes becomes "even more substantial," Berner said.Price: $29.97, Change: $-0.72, Percent Change: -2.33%

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International32d ago

Rents Drop Annually for 33rd Consecutive Month, With Further Renter Relief Likely, Realtor.com Says

Asking rents in the US fell annually for a 33rd successive month in April, with a strong rise in new multi-family construction indicating continued relief for renters ahead, News Corp's (NWS, NWSA) Realtor.com said Wednesday.The median asking rent across the 50 largest US metropolitan areas dropped 1.7% year over year to $1,673 last month, the 33rd straight month of annual decreases for studio to two-bedroom properties, according to a report by the online real estate portal."Many renters have experienced meaningful relief over the past nearly three years, and although completions have slowed, forward-looking indicators are renter-friendly," Realtor.com Chief Economist Danielle Hale said.In the first quarter, new multi-family groundbreakings surged almost 20%. Units that break ground today typically reach the market within one to two years, according to Hale. "So the pipeline points to continued downward pressure on rents well into 2027," Hale said.Among major US regions, the Northeast saw new multi-family groundbreakings almost double on an annual basis in the first quarter, while the number of newly completed multi-family units soared 42%, marking the strongest growth of any region, according to the report.New groundbreakings in the West sank to their lowest first-quarter level since at least 2017, while the number of newly completed multi-family units plunged 38%. This makes the West the only region where completions have dropped below pre-pandemic norms, Realtor.com said."As we move into the spring and summer leasing seasons, we expect the median asking rent to tick up modestly on a monthly basis, which is the typical seasonal pattern," Realtor.com Economist Jiayi Xu said. "But given the sustained level of multi-family construction relative to pre-pandemic norms, year-over-year declines are likely to continue through 2026. Modest rent relief is still the story for most renters."Realtor.com said it expects the rental supply relief to continue into the next "several" years amid the ongoing strength in new multi-family construction.Price: $30.62, Change: $+0.20, Percent Change: +0.67%

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Wire33d ago

Guggenheim Raises News Price Target to $43 From $41

News (NWS, NWSA) has an average rating of buy and mean price target of $35.20, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $30.55, Change: $+0.14, Percent Change: +0.46%

$NWS$NWSA

Wire35d ago

Update: Morgan Stanley Lifts Price Target on News Corp. to $34 From $32.40, Keeps Overweight Rating

(Updated to include Morgan Stanley's commentary)Morgan Stanley raised its price target on News (NWSA, NWS) to $34 from $32.40 following the company's reported fiscal Q3 earnings.The brokerage mentioned that it is more bullish than consensus on REA/Move and Dow Jones, with the quarterly results supporting their thesis.According to the brokerage, ongoing revenue growth, increasing subscription and digital revenues as a percent of group revenues, and balance sheet strength provides optionality.News has an average rating of buy and mean price target of $35.20, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $26.59, Change: $-0.43, Percent Change: -1.59%

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US Markets61d ago

Nearly Half of Prospective Home Sellers Optimistic About Getting Asking Price, Realtor.com Says

Nearly half of prospective home sellers are confident they can get their asking price this spring, News Corp.'s (NWS, NWSA) Realtor.com said Tuesday.A survey by the online real estate portal showed that 46% of potential sellers expect to meet buyers at their asking price. Some 37% expect to receive higher prices.More than two-thirds, or 74%, believe now is a good time to sell amid strong home values, limited inventory and stabilizing interest rates, Realtor.com said."Sellers this spring are entering the market clear-eyed," Laura Eddy, vice president of research and insights at Realtor.com, said. "They understand their home has value, and they're motivated to act, but they're also more attuned to the reality that buyers have regained some footing."The survey showed that 75% of potential sellers expect their homes to sell within four months, including 27% who are optimistic about selling within one to two months, according to the Realtor.com report. The typical home spends 57 days on market."Yet beneath that confidence lies a more nuanced picture: concession expectations are rising, and sellers' reads on market conditions vary sharply by region," Realtor.com Senior Economic Research Analyst Hannah Jones said. "The spring window is open, but the seller experience depends heavily on where a home is listed and how it's priced."Price: $28.90, Change: $+0.07, Percent Change: +0.23%

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