Diana Olick is an Emmy Award-winning journalist, currently serving as CNBC's real estate correspondent as well as the author of the Realty Check section on CNBC.com. She also contributes her real estate expertise to NBC's "Today" and "NBC Nightly News with Brian Williams."
Prior to joining CNBC in 2002, Olick spent seven years as a correspondent for CBS News.
Olick began her career as a local news reporter at WABI-TV in Bangor, Maine; WZZM-TV in Grand Rapids, Mich.; and KIRO-TV in Seattle. She joined CBS in 1994 as a New York-based correspondent for the "CBS Evening News with Dan Rather" and "The Early Show." She also contributed pieces to "48 Hours" and "Sunday Morning." During that time, she covered such stories as the World Trade Center conspiracy trial and the Boston abortion clinic shooting.
In 1995, Olick was assigned to cover the Midwest as a Dallas bureau correspondent. In the three years she was there, she covered all forms of natural disaster, including the crash of TWA Flight 800, the JonBenet Ramsey murder mystery and was the exclusive correspondent for the trial of Oklahoma City bomber Terry Nichols. During that time, she also took a temporary assignment in CBS' Moscow bureau, where she chronicled the brief presidential campaign of Mikhail Gorbachev.
In 1998, Olick was reassigned to the New York bureau and then immediately posted to Bahrain for the buildup to a possible second Gulf War. A year later, she went to Albania to cover the U.S. military buildup during the conflict in Kosovo.
Upon her return, Olick was reassigned to CBS' Washington bureau and the Capitol Hill beat. During Campaign 2000, Olick covered the Senate campaign of First Lady Hillary Rodham Clinton and later joined the Bush campaign as a special correspondent for "The Early Show." That fall, she was named Supreme Court correspondent; her first case was Bush v. Gore.
Olick has a B.A. in comparative literature with a minor in soviet studies from Columbia College in New York and a master's degree in journalism from Northwestern's Medill School of Journalism.
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The Pending Home Sales Index fell 4.1% in January from December and is 8.9 percent lower than January of 2006. This number comes after a 3% jump in sales in January, those of course based on contracts signed in December. And the Realtors say it’s all about the weather.
Existing home sales are up and new home sales are in a despair spiral. What’s up with that? Two days and two completely different reports on the US housing market. The National Association of Realtors reports existing home sales in the month of January jumped 3% and then the next day the US Commerce Department reports sales of new homes in January plummeted 16.6%. I repeat, what’s up with that?
There’s a lot of data out today on existing home prices across the U.S., and I want to quickly make a little sense of it for you. First we get results from the National Association of Realtors, which reports that the median existing home price in the U.S. is $210,600, down 3.1% from January of 2006.
Has the housing market hit bottom? It depends on what part of the market you're talking about.
An interesting note popped to my inbox today: the final tally from the International Home Builders Show. The National Association of Home Builders, which runs the show, reports this year’s show was the largest in history, by number of exhibitors - more than 1,900 - and by space - one million net square feet of exhibits. Attendance did not break last year’s record, just over 105,000, but it only missed it by a thousand or so.
A bright spot in today’s earnings report from KB Home, one of the nation’s largest home builders: prices on their homes are coming down this quarter. While the company posted some nasty earnings for the fiscal fourth quarter and is showing a 48% cancellation rate, that fact bodes well for the usually busy spring season.
Kermit the Frog may think, “It ain’t easy being green,” but the 10-foot-tall frog on the placard welcoming you to the Bosch display at the International Home Builders Show in Orlando, Fla., might beg to differ. Bosch has long been at the forefront of energy-efficient, or “green” appliances, but the company now stands at the front of a very long line of companies turning their attentions to energy conservation.
I want to share a conversation I just had with my friend Nancy Taylor Bubes, a top realtor in D.C., who has helped transfer literally hundreds of millions of dollars worth of property in the coveted Georgetown neighborhood. ...For the past year she's been bemoaning the market, showing me homes that have been sitting on the market for months without so much as a sniff. So I visited her at a small townhouse in Georgetown that just sold for a touch over a million dollars.
Last weekend a house in my DC neighborhood went on the market. It was the first new listing in its price range to hit the MLS (Multiple Listing Service) in about two months. There were only three others, and those had been sitting since the fall. The house was "open" Saturday and Sunday, and by Monday it was "under contract."