U.S. Housing Supply Growth Loses Momentum
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 05 2026
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Should l Buy NWS?
Source: PRnewswire
- Inventory Growth Slows: U.S. housing inventory rose 10.0% year-over-year, yet the growth has decelerated for nine consecutive months, indicating a loss of recovery momentum, with current inventory levels 17.2% below pre-pandemic norms, marking the widest gap since last spring and potentially leading to upward price pressures in the future.
- Price Stability: The national median listing price remains steady at $399,900, virtually unchanged from last year, while the price per square foot dipped 1.6%, yet this price stability may attract more buyers into the market, especially as mortgage rates have fallen to their lowest levels since 2022.
- Buyer Activity Rebounds: Pending home sales rose 1.2% year-over-year in January, marking the largest annual increase since December 2024, reflecting a recovery in buyer demand under a low-rate environment, with sales and new listing activity expected to be key indicators to watch in the coming months.
- Significant Regional Differences: While inventory increased across all major regions, the West saw the largest gain at 11.5%, whereas the South and Northeast experienced more modest increases, suggesting that regional disparities may influence future price trends, particularly in markets where inventory remains tight.
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Analyst Views on NWS
About NWS
News Corporation is a diversified media and information services company. Its Digital Real Estate Services segment consists of the Company’s interest in REA Group and Move. REA Group is a digital media business specializing in property and property-related services on its Websites and mobile apps. Move is a provider of digital real estate services in the United States and primarily operates a real estate information, advertising and services platform, as well as its referral-based services, online tools and services to do-it-yourself landlords and tenants. Its Dow Jones segment consists of Dow Jones, a global provider of news and business information, which distributes its content and data through a variety of media channels. Its Book Publishing segment consists of HarperCollins, a consumer book publisher with operations in 15 countries. Its News Media segment consists of News Corp Australia, News UK and the New York Post and includes The Australian, The Daily Telegraph, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
News Corporation Earnings Report and Rating Adjustments
- Earnings Highlights: News Corporation's FQ2 2026 report shows a revenue increase to $2.4 billion, up 6%, with total segment EBITDA rising 9% to $521 million, indicating strong performance in digital real estate and Dow Jones segments.
- Profitability Changes: Despite a 21% drop in net income from continuing operations to $242 million due to the absence of an $87 million one-time gain from the previous year, adjusted EPS rose to $0.40, and profitability margins improved to 22.1%.
- Segment Performance: Both Dow Jones and Digital Real Estate segments achieved double-digit profit growth, with Dow Jones recording a record digital advertising revenue of $87 million and Realtor.com seeing a 10% revenue increase, showcasing successful digital transformation.
- Market Challenges: The News Media segment reported flat revenues and a 5% decline in EBITDA, reflecting challenges in the print advertising market, while Book Publishing grew 6% to $633 million but was impacted by a $16 million one-time inventory charge at HarperCollins, highlighting pressures faced by traditional media.
See More
Significant Price Reduction Trends in New Construction Homes
- New Construction Price Cuts: By late 2025, nearly 20% of new homes experienced price reductions, surpassing the resale market for the first time, indicating builders' proactive response to buyer price sensitivity.
- Regional Disparities: States like Nevada, Indiana, South Carolina, Minnesota, North Carolina, New Jersey, and Texas show new construction price reduction rates exceeding the national average of 18.3%, with Nevada leading at 24.8%.
- Price Stability: In Q4 2025, the median listing price for newly built homes was $451,128, reflecting only a 0.3% increase year-over-year, while resale home prices remained flat, indicating relative stability in new home pricing.
- Supply and Demand Shifts: Newly built condos and townhomes carry a 30.7% price premium over existing attached homes, while new single-family homes are only 10.7% more expensive than existing ones, highlighting the critical role of new constructions in meeting buyer needs.
See More
Significant Price Reduction Trends in New Construction Homes
- New Construction Price Cuts: By late 2025, nearly 20% of new homes experienced price reductions, surpassing the resale market for the first time, indicating builders' proactive response to affordability pressures and high inventory levels, which could reshape market dynamics.
- Regional Disparities: States like Nevada, Indiana, South Carolina, Minnesota, North Carolina, New Jersey, and Texas show new construction price reduction rates exceeding the national average of 18.3%, suggesting intensified market competition that may lead to price wars in these regions.
- Stable New Home Prices: The median listing price for newly built homes in Q4 2025 was $451,128, reflecting only a 0.3% increase year-over-year, while resale home prices remained flat, indicating relative stability in new home pricing that could attract more buyers.
- Condo vs. Single-Family Pricing: Newly built condos and townhomes carry a 30.7% premium over newly built single-family homes, largely due to geographic factors, highlighting the significant role of condos in high-cost urban markets, which may influence buyer preferences.
See More
Dow Jones Appoints Ben Levisohn as Editor in Chief of Barron's
- New Editor Appointment: Dow Jones has appointed Ben Levisohn as the editor in chief of Barron's, bringing 15 years of experience within the company, where he previously served as senior managing editor and was instrumental in launching Barron's Investor Circle, showcasing his expertise and leadership in financial publishing.
- Strong Market Interest: CEO Almar Latour noted that Levisohn takes the helm at a time of unprecedented investor interest in both the markets and Barron's, providing a favorable environment for him to drive brand growth and engagement.
- Rich Career Background: Levisohn began his career as a Wall Street equities trader with seven years of trading experience before transitioning to journalism in 2007, working at BusinessWeek and Bloomberg, which highlights his deep understanding of financial markets and passion for writing.
- Company Growth: Dow Jones recently reported a record quarter and six consecutive years of growth, currently boasting over 6 million subscriptions, indicating its strong influence and market position in the business news and intelligence sector.
See More
U.S. Luxury Housing Market Prices Stabilize
- Stable Luxury Pricing: In January 2026, the U.S. luxury housing market's entry-level price held steady at $1.19 million, with the 90th percentile luxury threshold showing a slight year-over-year decline of 0.6%, indicating a stabilizing trend amidst regional differences in luxury definitions.
- Comparison of Legacy and Emerging Markets: In traditional markets like San Francisco and San Jose, the average luxury home was built in the 1970s, while in emerging markets such as Heber, Utah, and Boise, Idaho, the luxury segment is predominantly driven by new constructions, highlighting the varying lifecycle stages of these markets.
- Demand and Supply Dynamics: The scarcity of luxury properties in legacy markets leads to rapid sales, exemplified by San Jose's luxury homes selling in a median of just 19 days in January, indicating buyers' willingness to pay a premium for location and historical value.
- Expansion in Emerging Markets: Heber's luxury homes have a median build year of 2024, with properties often exceeding 3,500 square feet, attracting buyers who prioritize modern design and lifestyle amenities, reflecting a shift in consumer preferences towards newness and spaciousness.
See More
U.S. Luxury Housing Market Prices Stabilize
- Stable Luxury Pricing: In January 2026, the U.S. luxury housing market's entry-level price held steady at $1.19 million, indicating market stability, despite a 0.6% year-over-year decline in the 90th percentile luxury threshold.
- Contrast Between Markets: Traditional markets like San Francisco and San Jose have luxury homes averaging built in the 1970s, while emerging markets such as Heber, Utah, and Boise, Idaho, are characterized by brand-new constructions, reflecting differing market lifecycles and buyer preferences.
- Market Dynamics and Buyer Preferences: In legacy markets, buyers prioritize location and historical value, whereas in emerging markets, modern design and spacious layouts attract buyers, showcasing a shift in the definition of luxury.
- Sales Velocity of Luxury Homes: Despite older housing stock, luxury homes in San Francisco sold in a median of 78 days in January, demonstrating that scarcity continues to drive sales speed even during market lulls.
See More
News Corporation Earnings Report and Rating Adjustments
- Earnings Highlights: News Corporation's FQ2 2026 report shows a revenue increase to $2.4 billion, up 6%, with total segment EBITDA rising 9% to $521 million, indicating strong performance in digital real estate and Dow Jones segments.
- Profitability Changes: Despite a 21% drop in net income from continuing operations to $242 million due to the absence of an $87 million one-time gain from the previous year, adjusted EPS rose to $0.40, and profitability margins improved to 22.1%.
- Segment Performance: Both Dow Jones and Digital Real Estate segments achieved double-digit profit growth, with Dow Jones recording a record digital advertising revenue of $87 million and Realtor.com seeing a 10% revenue increase, showcasing successful digital transformation.
- Market Challenges: The News Media segment reported flat revenues and a 5% decline in EBITDA, reflecting challenges in the print advertising market, while Book Publishing grew 6% to $633 million but was impacted by a $16 million one-time inventory charge at HarperCollins, highlighting pressures faced by traditional media.
See More
Significant Price Reduction Trends in New Construction Homes
- New Construction Price Cuts: By late 2025, nearly 20% of new homes experienced price reductions, surpassing the resale market for the first time, indicating builders' proactive response to buyer price sensitivity.
- Regional Disparities: States like Nevada, Indiana, South Carolina, Minnesota, North Carolina, New Jersey, and Texas show new construction price reduction rates exceeding the national average of 18.3%, with Nevada leading at 24.8%.
- Price Stability: In Q4 2025, the median listing price for newly built homes was $451,128, reflecting only a 0.3% increase year-over-year, while resale home prices remained flat, indicating relative stability in new home pricing.
- Supply and Demand Shifts: Newly built condos and townhomes carry a 30.7% price premium over existing attached homes, while new single-family homes are only 10.7% more expensive than existing ones, highlighting the critical role of new constructions in meeting buyer needs.
See More
Significant Price Reduction Trends in New Construction Homes
- New Construction Price Cuts: By late 2025, nearly 20% of new homes experienced price reductions, surpassing the resale market for the first time, indicating builders' proactive response to affordability pressures and high inventory levels, which could reshape market dynamics.
- Regional Disparities: States like Nevada, Indiana, South Carolina, Minnesota, North Carolina, New Jersey, and Texas show new construction price reduction rates exceeding the national average of 18.3%, suggesting intensified market competition that may lead to price wars in these regions.
- Stable New Home Prices: The median listing price for newly built homes in Q4 2025 was $451,128, reflecting only a 0.3% increase year-over-year, while resale home prices remained flat, indicating relative stability in new home pricing that could attract more buyers.
- Condo vs. Single-Family Pricing: Newly built condos and townhomes carry a 30.7% premium over newly built single-family homes, largely due to geographic factors, highlighting the significant role of condos in high-cost urban markets, which may influence buyer preferences.
See More
Dow Jones Appoints Ben Levisohn as Editor in Chief of Barron's
- New Editor Appointment: Dow Jones has appointed Ben Levisohn as the editor in chief of Barron's, bringing 15 years of experience within the company, where he previously served as senior managing editor and was instrumental in launching Barron's Investor Circle, showcasing his expertise and leadership in financial publishing.
- Strong Market Interest: CEO Almar Latour noted that Levisohn takes the helm at a time of unprecedented investor interest in both the markets and Barron's, providing a favorable environment for him to drive brand growth and engagement.
- Rich Career Background: Levisohn began his career as a Wall Street equities trader with seven years of trading experience before transitioning to journalism in 2007, working at BusinessWeek and Bloomberg, which highlights his deep understanding of financial markets and passion for writing.
- Company Growth: Dow Jones recently reported a record quarter and six consecutive years of growth, currently boasting over 6 million subscriptions, indicating its strong influence and market position in the business news and intelligence sector.
See More
U.S. Luxury Housing Market Prices Stabilize
- Stable Luxury Pricing: In January 2026, the U.S. luxury housing market's entry-level price held steady at $1.19 million, with the 90th percentile luxury threshold showing a slight year-over-year decline of 0.6%, indicating a stabilizing trend amidst regional differences in luxury definitions.
- Comparison of Legacy and Emerging Markets: In traditional markets like San Francisco and San Jose, the average luxury home was built in the 1970s, while in emerging markets such as Heber, Utah, and Boise, Idaho, the luxury segment is predominantly driven by new constructions, highlighting the varying lifecycle stages of these markets.
- Demand and Supply Dynamics: The scarcity of luxury properties in legacy markets leads to rapid sales, exemplified by San Jose's luxury homes selling in a median of just 19 days in January, indicating buyers' willingness to pay a premium for location and historical value.
- Expansion in Emerging Markets: Heber's luxury homes have a median build year of 2024, with properties often exceeding 3,500 square feet, attracting buyers who prioritize modern design and lifestyle amenities, reflecting a shift in consumer preferences towards newness and spaciousness.
See More
U.S. Luxury Housing Market Prices Stabilize
- Stable Luxury Pricing: In January 2026, the U.S. luxury housing market's entry-level price held steady at $1.19 million, indicating market stability, despite a 0.6% year-over-year decline in the 90th percentile luxury threshold.
- Contrast Between Markets: Traditional markets like San Francisco and San Jose have luxury homes averaging built in the 1970s, while emerging markets such as Heber, Utah, and Boise, Idaho, are characterized by brand-new constructions, reflecting differing market lifecycles and buyer preferences.
- Market Dynamics and Buyer Preferences: In legacy markets, buyers prioritize location and historical value, whereas in emerging markets, modern design and spacious layouts attract buyers, showcasing a shift in the definition of luxury.
- Sales Velocity of Luxury Homes: Despite older housing stock, luxury homes in San Francisco sold in a median of 78 days in January, demonstrating that scarcity continues to drive sales speed even during market lulls.
See More
