Diana Olick
Diana Olick is an Emmy Award-winning journalist, currently serving as CNBC's senior climate and real estate correspondent. She contributes her expertise to NBC News NOW, MSNBC, NBC's 'Today' and 'NBC Nightly News.' She frequently speaks at guest segments on NPR and C-SPAN. Diana has won several awards for her work, including the Gracie Award for 'Outstanding Blog' in 2015. After joining CNBC in 2002, she recognized the housing market boom and launched the network's real estate beat, covering both commercial and residential real estate as well as the mortgage market. She was at the forefront of reporting on the housing boom, subprime mortgage collapse, housing crash recovery. Diana also launched CNBC's real estate page on their website and is its primary author. In 2018, she started a series called 'Rising Risks,' examining the growing risk to real estate from climate change. The series expanded beyond real estate in 2021, and Diana began covering climate change full-time across all sectors. In early 2022, she launched another climate series called 'Clean Start,' which follows venture capital money into climate startups. The series airs weekly and has its own page on CNBC.com/clean-start. Before joining CNBC, Diana spent seven years as a correspondent for CBS News. She began her career as a local news reporter at WABI-TV in Bangor, Maine; WZZM-TV in Grand Rapids, Michigan; and KIRO-TV in Seattle. She joined CBS in 1994 and worked in the New York, Dallas, and Washington D.C. bureaus covering various stories such as the World Trade Center conspiracy trial, TWA Flight 800 crash investigation, JonBenet Ramsey murder mystery trial, and was the exclusive correspondent for the trial of Oklahoma City bomber Terry Nichols. She also had a temporary assignment in CBS's Moscow bureau covering Mikhail Gorbachev's brief presidential campaign. Diana 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 University's Medill School of Journalism.
72%
The Daily's Verdict
This author has a mixed reputation for journalistic standards. It is advisable to fact-check, scrutinize for bias, and check for conflicts of interest before relying on the author's reporting.
Bias
90%
Examples:
- The author occasionally approaches the market with optimism despite challenges, which could be seen as a slight bias.
Conflicts of Interest
50%
Examples:
- There are instances where the author could be seen as having a conflict of interest, such as covering climate full-time across all sectors after launching a climate series.
Contradictions
85%
Examples:
- Contradictions in data provided such as home prices increasing while sales stall and inventory is still down from pre-pandemic levels.
- Mortgage rates remaining high while home prices continue to rise.
Deceptions
70%
Examples:
- Inaccurate statements about the entire housing market struggling when in fact the majority of current borrowers have loans with lower rates.
- The author sometimes uses misleading language or data to make a point, such as claiming mortgage rates have surged higher when no evidence is provided.
Recent Articles
Housing Market Shifts: Homes Sell Below Asking Price for First Time Since Pandemic, Prices Cool and Buyers Gain Power
Broke On: Sunday, 30 June 2024Amidst cooling housing market trends, homes now sell below asking price for the first time since the pandemic began. The typical U.S. home sold 0.3% under its list price in late June 2024, marking a significant shift from previous years when homes typically sold at or above their asking prices. Sellers have been reducing prices by about 7%, compared to a decrease of 4.7% last year, as inventory remains low and demand eases slightly. 
Record-Breaking Home Prices: May 2024 Median at $419,300 - NAR Report
Broke On: Friday, 21 June 2024In May 2024, US home prices reached a record high of $419,300, up 5.8% YoY according to NAR. Despite this increase, sales of previously owned homes remained relatively stable and inventory saw a significant rise. The Federal Reserve is expected to adjust interest rates later this year which may ease affordability for homebuyers. 
Existing Home Sales Decline 1.9% in April Amidst Rising Mortgage Rates and Limited Inventory: Prices Reach Record High of $407,600
Broke On: Wednesday, 22 May 2024Existing home sales dropped 1.9% in April to a seasonally adjusted annual rate of 4.14 million units, despite a 9% increase in inventory and record-high median home prices of $407,600. First-time buyers made up 33% of sales, while all-cash transactions remained high at 28%. The Northeast, Midwest, South, and West regions all experienced decreases in sales but rising prices. The market is stabilizing with more inventory available but remains competitive for potential homebuyers. 
Mortgage Rates Surge to Highest Level of the Year: What It Means for Homebuyers
Broke On: Monday, 01 April 2024Mortgage rates have surged to their highest level of the year, averaging 7.5% for the popular 30-year fixed mortgage. This upward trend, driven by inflation concerns and Fed Chair Jerome Powell's comments, has led to a rise in sales data reflecting the impact on homebuyers. Despite this, mortgage applications have only slightly increased compared to last year, with experts urging potential buyers to act quickly due to strong economic data keeping rates elevated. Additionally, rising material costs are causing builders to increase prices and further impact affordability. 
March Home Sales Decline: Rising Mortgage Rates Pause Buyer Activity, Inventory Improves Slightly
Broke On: Thursday, 18 April 2024Home sales declined by 4.3% in March due to rising mortgage rates, resulting in a seasonally adjusted annualized rate of 4.19 million units. Median home prices hit a new record high at $393,500, while inventory slightly improved with a 4.7% increase to 1.11 million homes for sale. First-time homebuyers accounted for 32% of sales and all-cash purchases decreased slightly, but mortgage rates are expected to rise further this month. 
Rising Mortgage Rates: What You Need to Know
Broke On: Thursday, 15 February 2024Mortgage rates have increased to 6.77% for the second week, driven by high inflation and strong employment data. 
2023: US Residential Real Estate Market Experiences Significant Decline in Home Sales and Record High Median Sale Price
Broke On: Wednesday, 31 January 2024In 2023, the US residential real estate market experienced a significant decline with home sales dropping to their lowest level since 1995. The median sale price of an existing home sold in December hit $389,800 - a record high. 
Home Prices Rise for Ninth Straight Month in October 2023
Broke On: Tuesday, 26 December 2023Home prices in the US rose for a ninth straight month in October 2023. The national index of home prices increased by 4.8% from October 2022 levels. Detroit saw an annual gain of 8.1%. San Diego and New York also experienced gains of 7.2% and 7.1%, respectively. Despite rising mortgage rates in October, demand for homes remained strong.