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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. National home prices rose +0.5% year-over-year between May 2024 and May 2025, according to the Zillow Home Value Index reading published last weeka decelerated rate from the +3.9% year-over-year rate between May 2023 and May 2024. And more metro area housing markets are seeing declines. > 31 of the nations 300 largest housing markets (i.e., 10% of markets) had a falling year-over-year reading in the January 2024 to January 2025 window. > 42 of the nations 300 largest housing markets (i.e., 14% of markets) had a falling year-over-year reading in the February 2024 to February 2025 window. > 60 of the nations 300 largest housing markets (i.e., 20% of markets) had a falling year-over-year reading in the March 2024 to March 2025 window. > 80 of the nations 300 largest housing markets (i.e., 27% of markets) had a falling year-over-year reading in the April 2024 to April 2025 window. > 96 of the nations 300 largest housing markets (i.e., 32% of markets) had a falling year-over-year reading in the May 2024 to May 2025 window. While 32% of the 300 largest housing markets are currently experiencing year-over-year home price declines, that share is gradually increasing as the supply-demand balance continues to shift directionally toward buyers in this affordability-constrained and post-housing boom environment. Home prices are still climbing in many regions where active inventory remains well below pre-pandemic 2019 levels, such as pockets of the Northeast and Midwest. In contrast, some pockets in states like Arizona, Texas, Florida, Colorado, and Louisianawhere active inventory exceeds pre-pandemic 2019 levelsare seeing modest home price corrections. Year-over-year home value declines, using the Zillow Home Value Index, are evident in major metros such as Austin (-5.5%); Tampa (-5.4%); Dallas (-3.4%); Phoenix (-3.4%); San Antonio (-3.3%); Orlando (-3.2%); Miami (-3.2%); Jacksonville, Florida (-3.0%); Atlanta (-2.7%); San Francisco (-2.5%); Denver (-2.4%); New Orleans (-2.3%); San Diego (-1.9%); Raleigh (-1.8%); Houston (-1.5%); Sacramento (-1.4%); Charlotte (-0.9%); Memphis (-0.9%); Riverside (-0.8%); Portland (-0.5%); Birmingham (-0.3%); and Seattle (-0.1%). Click here for an interactive version of the chart below !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); The markets seeing the most softness, where homebuyers have gained the most leverage, are primarily located in Sun Belt regions, particularly the Gulf Coast and Mountain West. Many of these areas saw major price surges during the Pandemic Housing Boom, with home price growth outpacing local income levels. As pandemic-driven domestic migration slowed and mortgage rates rose, markets like Tampa and Austin faced challenges, relying on local income levels to support frothy home prices. This softening trend is further compounded by an abundance of new home supply in the Sun Belt. Builders are often willing to lower prices or offer affordability incentives to maintain sales, which also has a cooling effect on the resale market. Some buyers, who would have previously considered existing homes, are now opting for new homes with more favorable deals. Given the shift in active housing inventory and months of supply, along with the soft level of appreciation in more markets this spring, ResiClub expects the number of metro areas with year-over-year home price declines in the Zillow Home Value Index to continue ticking up in the coming months. This softening and regional variation should not surprise ResiClub PRO membersweve been closely documenting it. ResiClub PRO members can view our latest analysis of home prices across +800 metros and +3,000 counties here.
Category:
E-Commerce
Is it time to BeReal again? In 2022, the photo-sharing app surged in popularity, won Apples App of the Year, and even earned its own SNL skit. Once a day, at a random time, users were prompted to post a picture of whatever they were doing. With a 2-minute timer and one shot to make it count, the apps premise was to capture real moments in real time. But like most viral sensations, the novelty wore off. Downloads dropped, usage stagnated, and in 2023, the app was sold to French gaming company Voodoo for 500 million. Now, BeReal wants a second chance. At Cannes Lions this year, Managing Director Ben Moore shared the companys comeback plan. We have people that are committed to building the next big thing with BeReal, Moore told Business Insider. We can make something that really answers the demands of Gen Z, who are sick and tired of the filters, of the lenses, of the social pressure of posting something thats not going to get them the level of views and likes they would want. Moore claims the app still has around 40 million active users, mainly in Japan, France, and the U.S. In 2023, worldwide downloads totaled an estimated 31.5 million, which dropped 60% year-over-year to 12.7 million in 2024. According to Sensor Tower, year-to-date downloads are down 50% compared to last year. For its relaunch, BeReal is trying to win back users by investing in advertising, primarily on other apps owned by Voodoo Games. The team is also hoping to generate buzz through micro ambassadors on college campuses and by sponsoring parties where entry requires downloading the app. They are giving the app a facelift too, with new features like nearby, which lets users discover others in their area, and suggestions for people who post similar kinds of pictures. We really want to bring back the social aspect of what social media was built for, Moore said. But BeReals magic wasnt in its features. It was in the cultural momenta collective pause from the algorithm for a fleeting sense of connection (even if it was just a selfie at your desk four days in a row). Can lightning strike twice?
Category:
E-Commerce
Basketball fans will be keeping their eye on New York tonight for the first round of the 2025 NBA draft at Barclays Center, home of the Brooklyn Nets, with an 8 p.m. ET tip-off in Brooklyn. Round two takes place tomorrow, Thursday, June 26, at the same time and same place. There will be a total of 59 picks this year, and fans will be watching tonight to see if the Duke Blue Devils’ Cooper Flagg will be going to the Dallas Mavericks, who have the No. 1 pick in the NBA draft. The draft also has a number of excellent shooters, led by two freshmen: Tre Johnson of the Texas Longhorns and Duke’s Kon Knueppel. It also has some excellent “3 and D” prospects, or those who excel at both three-pointers and defense: Arizona Wildcats’ Carter Bryant, Saint Joseph’s Hawks’ Rasheer Fleming, and Washington State Cougars’ Cedric Coward. Here’s a look at the order of selections for tonight’s first round of the NBA draft. First Round Dallas Mavericks San Antonio Spurs Philadelphia 76ers Charlotte Hornets Utah Jazz Washington Wizards New Orleans Pelicans Brooklyn Nets Toronto Raptors Houston Rockets (Reportedly traded to Phoenix) Portland Trail Blazers Chicago Bulls Atlanta Hawks San Antonio Oklahoma City Thunder Memphis Grizzlies Minnesota Timberwolves Washington Brooklyn Miami Heat Utah Atlanta (Reportedly traded to Brooklyn) New Orleans Oklahoma City Orlando Magic Brooklyn Brooklyn Boston Celtics Phoenix Suns Los Angeles Clippers NBA Draft 2025: Why only 59 picks? Instead of the usual 60 picks, this year there are only 59. Why? Blame it on the New York Knicks, who were denied their second-round pick as a result of talking to Jalen Brunson before free agency discussions were allowed in 2022, The New York Times reported. (Brunson went on become the Knicks’ best player, averaging 26 points and 7.3 assists per game, according to ESPN.) How can I watch or stream the NBA Draft live? In the United States, the NBA draft 2025 will air live on ABC and ESPN. ABC is available for traditional cable viewers and free with an over-the-air antenna. Cable subscribers can also watch ABC live through the ABC website and via its mobile apps. Cord-cutters also have the option to stream ABC on a live-TV streaming service that offers the network as part of a bundle, including Fubo, YouTube TV, or Hulu + Live TV. The 2025 NBA draft can also be accessed on SiriusXM, ESPN Radio, ESPN Deportes, and the ESPN app.
Category:
E-Commerce
U.S. stocks are hanging near their all-time high on Wednesday as financial markets catch a breath following two big days bolstered by hopes that the Israel-Iran war will not disrupt the global flow of crude oil. The S&P 500 was mostly unchanged in afternoon trading and sitting just 0.9% below its all-time high. The Dow Jones Industrial Average was down 121 points, or 0.3%, as of 12:52 p.m. Eastern time, and the Nasdaq composite was 0.2% higher. In the oil market, which has been the center of much of this weeks action, crude prices stabilized after plunging by roughly $10 per barrel in the last two days. Benchmark U.S. crude rose 2.2% to $65.79 per barrel, though it still remains below where it was before the fighting between Israel and Iran broke out nearly two weeks ago. A fragile ceasefire between the two countries appears to be holding, at least for the moment. On Wall Street, companies involved in the cryptocurrency industry rose as the price of bitcoin continued to steam ahead with investors willing to take on more risk. Coinbase Global, the crypto exchange, climbed 1.2%, and Robinhood Markets gained 0.4% as bitcoin topped $107,000. QuantumScape jumped 31.5% after announcing a breakthrough in its process for making solid-state batteries. Solid state battery technology promises to improve electric vehicle range, decrease charging times and minimize the risk of battery fires. But they are expensive to research and difficult to manufacture at a large scale, giving them a reputation for being a Holy Grail for battery engineers all over the world. They helped offset a 2% drop for FedEx. It reported stronger profit and revenue for the latest quarter than analysts expected, but it gave a forecast for profit in the current quarter that fell short of expectations. General Mills, the company behind Pillsbury and Progresso soups, fell 4.1% after reporting weaker revenue for the latest quarter than analysts expected, though its profit topped forecasts. It also said an underlying measure of profits could fall by 10% to 15% this upcoming fiscal year. In the bond market, Treasury yields were holding relatively steady, and the yield on the 10-year Treasury rose to 4.31% from 4.30% late Tuesday. Yields had dropped a day before after the chair of the Federal Reserve said it is waiting for the right moment to resume cutting interest rates. By lowering rates, the Fed could help give the economy a boost, but it could also offer additional fuel for inflation. Fed Chair Jerome Powell told a House of Representatives committee on Tuesday that he wants to wait and see how President Donald Trumps tariffs affect the economy and inflation before committing to its next move. Powell echoed many of the same statements in testimony before a Senate committee on Wednesday and said, For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance. In stock markets abroad, indexes fell modestly in Europe after rising across much of Asia. Stocks jumped 1.2% in Hong Kong and 1% in Shanghai for two of the larger moves. The world can now move on to face other difficult choices like tariffs and things like that, said Frances Lun, CEO of GEO Securities in Hong Kong. So I think the market is well on its way to rebound and could again reach new levels. Stan Choe, AP business writer AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
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E-Commerce
A bipartisan group of lawmakers on Wednesday vowed to keep Chinese artificial intelligence systems out of federal agencies while pledging to ensure the U.S. will prevail against China in the global AI competition. We are in a new Cold War, and AI is the strategic technology at the center, said Rep. John Moolenaar, the Republican chair of the House Select Committee on China, as he opened a hearing on the matter. The future balance of power may very well be determined by who leads in AI. The hearing on Capitol Hill comes about five months after a Chinese technology startup called DeepSeek introduced an AI model that rivaled platforms from OpenAI and Google in performance, but cost only a fraction to build. This raised concerns that China was catching up to the U.S. despite restrictions on chips and other key technologies used to develop AI. The ever-tighter race is now a central part of the U.S.-China rivalry. And so much is at stake that the U.S. must win, witnesses told the congressional panel. The two countries are in a long-term techno-security competition that will determine the shape of the global political order for the coming years, said Thomas Mahnken, president and CEO of the Center for Strategic and Budgetary Assessments. Jack Clark, cofounder and head of policy at Anthropic, told the committee that AI has built-in values. I know that AI systems are a reflection of the societies they are built from. AI built in democracies will lead to better technology for all of humanity. AI built in authoritarian nations will . . . be inescapably intertwined and imbued with authoritarianism, Clark said. We must take decisive action to ensure America prevails. Earlier this year, Chris Lehane, OpenAIs head of global affairs, told reporters in Paris that the U.S. and China were the only two countries in the world that could build AI at scale. The competition, which he described as one between democratic AI and autocratic AI, is very real and very serious, and the stakes are enormous, he said, for the global rails of AI will be built by one of those two countries. The 2025 AI Index Report by Stanford Universitys Human-Centered Artificial Intelligence center has the U.S. in the lead in producing top AI models. But the report notes China is rapidly closing the performance gap, reaching near parity in 2024 on several major benchmarks. It also shows that China leads in AI publications and patents. At the hearing, Clark urged the lawmakers to maintain and strengthen export controls of advanced chips to China. This competition fundamentally runs on compute, he said. The U.S. must control the flow of powerful chips to China, Clark said, or else you’re giving them the tools they will need to build powerful AI to harm American interests. Mark Beall Jr., president of government affairs at The AI Policy Network, said there are a number of very glaring gaps in the U.S. export controls that have allowed China to obtain controlled chips. Lawmakers earlier this year introduced a bill to track such chips to ensure they would not be diverted to the wrong hands. In another legislative step, Republican and Democratic lawmakers in both the House and the Senate on Wednesday introduced a bill to ban Chinese AI systems in the federal government. The U.S. must draw a hard line: Hostile AI systems have no business operating inside our government, Moolenaar said. The No Adversarial AI Act, as proposed, seeks to identify AI systems developed by foreign adversaries and ban their use in the U.S. government, with exceptions for use in research and counter-terrorism. By Didi Tang, Associated Press
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E-Commerce
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