dom. >> diana olick, thank you. >>> the american ballet theater has announced will return to the stagenter the series will be the first new york fall season from the company since 2019 the announcement comes after the company wrapped a series of perp form performances outdoors. joining us is the director of american ballet theater. kara medoff barnett. kara, how excited are you and the troupe for the in-person performances >> dom, we cannot wait to be back in the lincoln center theater. that's our home. we have enjoyed performing for audiences across the country and in parks and feeields from lincoln, nebraska, to charleston, middleburg, st. louis, minneapolis to be back home in new york city is going to be a thrill. we had a taste of it when we performed at rockefeller center this very week we know that our new york fans are eager to see abt artists take the stage again. >> take us through it. you are excited. are there protocols you are working with or anything special to make sure this fall goes off without a hitch? >> of course, we want to continue our commitment to keeping our art

cnbc's diana olick now to explain what's driving all of this diana?: shep, the problem is the price affordability has been crushed after a year-long run on housing that hit both the new and existing home markets. that report out this morning from the census showed sales of newly built homes dropped unexpectedly to the lowest level since april of last year and may's sales were also revised lower. the supply of new homes that are ready to move into is half of what it was just a year ago. the builders basically stopped working when covid hit and didn't expect the sudden new demand for buyers looking for more space, indoor and outdoor kpurs needed to work, school, play and exercise at home, and suddenly builders were scrambling to get on their feet again, but supplies were delayed, labor was scarce, and the price of lumber jumped over 300% lumber prices have pulled back recently but they are much higher than pre-covid, and fires in the west and canada are putting upward prices again. it all drove home prices higher, up 6% in june for newly built homes whi

not just oil lumber getting whacked as well so, why aren't builders seeing a lot of big savings diana olick> plus, from autos to smartphones. nearly every industry is dealing with the semiconductor shortage. we'll talk about what it means for chip stocks and your investments coming up. dow futures are off 300. we are back after this sofi is a one-stop shop for your finances designed to work better together. spend with sofi and get cash back rewards that automatically go toward your goals. like investing in stocks, etfs, and crypto. that's better together. or pay down your sofi debt sooner. that's better together. and that's how sofi is helping millions get their money right. flowers are fighters. and that's how sofi is helping millions that's why the alzheimer's association walk to end alzheimer's is full of them. because flowers find a way to break through. just like we will. join the fight at alz.org/walk tailor made or one size fits all? made to order or ready to go? with a hybrid, you don't have to choose. that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they

cnbc's real estate correspondent diana olick is in miami with that, diana? >> reporter: shep, the great covid migration brought massive amounts of wealth from the northeast to florida with huge demands for luxury condominiums like this one. sticker price $45 million from bespoke real estate. older condos, many of them across the bay in miami beach, saw even greater demand. that is, of course, until the devastating building collapse. miami has long been a tale of two condominium markets. those built before 2000, when strict new building codes born of the hurricane andrew disaster went into effect, and those built after. now since the collapse of the champlain tower, the divide is suddenly even wider. >> listen, no one in their right mind is going to buy a condo built before 2000 unless they have a safety certificate for the structure of the building, and it doesn't exist today. >> reporter: florida condos are required to go through an inspection every 40 years, but he says buyers cannot see those reports. >> no condo i've ever seen, and i've been here since 1

down on whether it's labor or just a supply shortage, we look for more granular information from diana olick diana >> a big disappointment on this read. >> diana, go ahead >> a big disappointment on that read, down 6%. i want to look at a couple of things that the median sale price is up 6%, which is why a lot of buyers are pulling back you also saw a huge jump in mortgage interest rates during the month of june. these sales are based on signed contracts, not closings. people out shopping around during the month of june i am also seeing that the inventory that is the supply of new home for sales jumped from five-month splay to a 6.3 month supply this is what d.r. horton was talking about last week when they said they were pulling back on sales on construction because they were seeing that buyer pullback there so you will start to see that inventory coming up the good sign is perhaps prices could soften a bit with prices high for for land, labor and materials builders will have a tough time and again a huge amount of the number of homes sold but not started. so builders have big back lag. a d

hot in the wake of the surfside condo collapse some are worried about other buildings in the area diana olickmore diana? >> reporter: kelly, miami has long been a tale of two condo markets, those built before the year 2000 when strict new building codes from hurricane andrew went into effect. most of them in miami beach, and those built after 2000 that's the glassy towers you see behind me. now after the building collapse, that divide is even wider. >> listen, no one in their right mind will buy a condo built before 2000 unless they have a safety certificate for the structure of the building and it doesn't exist today. >> reporter: florida condos are required to go through an inspection every 40 years but he says buyers cannot see those reports. >> no condo i've ever seen, and i've been here since 1993, has ever openly shared that. there's a lack of transparency by design. it is a south side market. >> reporter: and even more so since the great covid migration to the sunbelt pending condo sales in miami-dade county were up 86% in june from a year ago prices up 25%. and exclusive new numbers s

announcing a major investment in the tech fund, the goal to move real estate toward cleaner energy diana olickme investing through the fifth wall fund is not only for the planet, but for the company's bottom line. >> without a doubt we've got to find ways to have properties that can be more sustainable over the long haul whether that's how we use, you know, the energy from the sun, to how we think about our own water usage in being smart around resickling, things like that if we can put things in the home that will drive down utility costs over time and lend itself to a better overall experience for our resident, we'll get a longer duration from the resident with a higher propensity to renew. thus, a win for both parties. >> reporter: it covers raw materials, heat, cooling, water, waste, a new focus on air filtration, and both resilience and less reliance. >> in the ways you can be less -- need to be on the grid over time. so, i think, being proactive, doing the right levels of research and investing in the right products have been paramount in the way we have approached or business over the l

, a new surge could be on the way as mortgage rates decline and some new supply hits the market diana olick more >> reporter: the housing market has been a perfect storm for sellers. the winds may be shifting. strong demand and record low supply are starting to ease and mortgage rates are coming down new listings jumped 4% in the period ending july 4th with the year before. they were also up 3% from the same time in 2019 and that was the first time new supply topped pre-pandemic levels. the number of active listings still down 32% from a year ago, but that's actually the smallest annual drop since early february mortgage rates are helping buyers as well they started the year at a record low, then spiked higher in march and have now fallen back to the lowest level in about five months. home prices are still nuts, up over 15% from a year ago, and that's why a monthly housing sentiment survey from fannie mae found that in june 64% of respondents said bad time to buy a home up from 56% in may. 77% said good time to sell up from 67% in may as long as we see gains on that sell sentiment, though,

continuing her series of reports from the rising risk on climate change, here's cnbc's diana olick. >ive fans are fast at work cleaning the air of carbon dioxide. it is the leading edge of what could become the largest industry aimed at saving the planet >> what's behind me is a drop in the bucket this moves about 900 tons of co2 per year globally we emit 40 billion ton. >> reporter: but the bucket is getting bigger quickly climates as well as governments seek to monumentally expand what is called direct carbon capture. here's how it works. it's a box with a huge fan on one end and a filter inside that only attracts carbon dioxide the fan sucks the air through the filter once the filter is saturated, the box is closed. it is heated to 100 degrees s ae celsius and pure carbon dioxide is released and collected. climbworks is one of a few companies doing the capture. it installed the system in 2017, by 2020 raised $100 million from the likes of audi, microsoft and stripe and is building a larger plant in iceland >> it has to become a trillion dollar market. those are the investments that

again, there needs to be that supply out there for them to be able to afford >> diana, thanks diana olickousing >>> the reopening names under pressure, a quick check with seema mody >> reporter: what's interesting, kelly, the sell-off in travel, a sharp contrast to the bookings numbers which shows travelers are back on the road again here is hotel occupancy the last few weeks after a record july 4th occupancy has fallen, still averaging around 66% this fall will be critical for the industry just to see how significant of a pickup in corporate, business travel as schools reopen and kids go back to school. i think the other question, kelly, will people's travel preferences change airbnb was a big beneficiary during the pandemic last year. you'll see it is down less than some of the other travel operators like expedia today. >> they're all holding up relatively well all things considered seema, appreciate it seema mody >>> that does it for "the exchange" today. don't go anywhere because next on "power lunch" with markets selling off on the delta variant concern, is it time to rebet on the sh

cnbc's diana olick knows that, even with the massive drop over the month, lumber is, still, twice asemic. >>> and virgin orbit completing its second successful rocket launch and its first commercial mission. sending seven satellites, from three countries, into space today. you can see the company's 747 jet dubbed cosmic girl taking off this morning carrying that 70-foot rocket under its left wing there. the rocket was released over the pacific. then, it fired its engine and headed into space. virgin now joins spacex in the satellite-launching rocket business >>> on wall street, the dow up 210. the s&p, up 6. the nasdaq down 24 >>> i'm shepard smith. on cnbc. it's the bottom of the hour. time for the top of the news >>> today's big deadline for every major phone company to roll out new technology that cuts back on those annoying spam calls. how it works, and what to expect >>> manhunt over the tour de france fan who allegedly caused that massive crash, now in police custody >>> and the cdc reaffirms,o wea >> that announcement, fully vaccinated americans do not need to wear masks. >> t

diana olick has the details. >> reporter: yes, they dropped to the lowest level since the early days may sales figures were also revised down significantly dr horton, the nation's larger builder, got an update the problem is prices. it's a smaller gain we have seen in the previous months, but most of the homes available for sale now are on the higher end, so lower tier, they're priced out builders can't put up cheaper homes due to skyrocketing costs for materials and land the supply jumped again, but it's only the pricier supply that's around. >> you mentioned the upgrade of dr horton. the slower sales cadence from the company should allow land development and community growth efforts to catch up to current demand does that make sense to you? >> reporter: it's because of this massive backlog of homes. if you look at the new home sales numbers, the number of homes sold but not built yet is huge the number of homes for sale but not built yesterday is at a record high. the builders can't get the materials, and then they're watching these lumber prices, which came down pretty considerabl

diana olick reports on her continues series of the rising risks from climate change. the air of carbon dioxide. it's the leading edge of what could be the largest industry aimed at saving the planet what's behind me is a drop in the bucket it removes about 900 tons of co2 a year to put it in perspective it's about 40 billion tons. >> reporter: but companies are seeking to monumentally expand what is called direct carbon capture. it's a box with a huge fan on one end, a niller inside that only attraction carbon dioxide the fan sucks the air through the filter once it's saturated, the box is closed it's heated and cure carbon dioxide is released and captured it installed the zurich system, and by 2020 had raised $100 million from the likes of microsoft, audi, and shopify. >> it's become a trillion dollar market i think those are the investments that they see there's a long-term return on this. >> he likens it to the fast rise of electric vehicleses, solar panels and wind farms. now the state of california is working on plans to use cashin capture to reach its aggressive

first half hour with the s&p down 1.7% you see the dow down almost 2% nahp data out moments ago t diana olick dropped one point to 80 on the nahb wells fargo housing market index lower than expectations. it was 72 in july last year. it hit a record high of 90 in november of last year. now, the home builders are citing elevated prices, land, labor and materials continue to push home prices higher sidelining some buyers lumber prices have fallen more than 50%, shows savings have not trickled down to the builders remodelers or consumers. supply chain issues as well as inventory with suppliers are keeping retail prices elevated of the indexes three components. current sales conditions fell one point to 86, buyer traffic six points to 65 and sales expectations in the sex six months rose two points to 81 sentiment fell everywhere except in the south where it was unchanged. >> remarkable. thank you for that we are 30 minutes into the trading session. here are the three big movers we are watching today starting with zoom video making the large et cetera ever acquisition buying cloud-based operator 59

to the sun belt now it is at another crossroads after the collapse of the miami beach building diana olickr: good morning, becky. they have a tale of two condos before the building codes and most on miami beach and those built after 2000 the glassy towers you see behind me since the building collapse, the divide is wider. >> listen, no one in the right mind will buy a condo built before 2000 unless they have a safety certificate for the structure of the building. it doesn't exist today >> reporter: the condos are required to go through an inspection every 40 years, but zalewski says buyers not see the reports. >> no condo has ever openly shared that information. there is a lack of transparency in the condo market here by design it is a sell side market >> reporter: more so since the great covid migration to the sun belt pending condo sales in mi miami-dade you were up 86% from a year ago new numbers show older condos were seeing more action and average 259 sales per month versus 154 for doneecondos compd after 2000 real estate agents were getting calls immediately for bargain hunters looki

cnbc's diane olick with the latest hey, diana. >> hey, shep we first met the entrepreneurs last yearr new pool rental app nationwide demand was both immediate and immense. this summer, of course, public pools are open, again. but demand for rentals hasn't cooled off at all. in fact, it's gone right off the deep end. >> the amount of hosts on the platform have tripled. >> reporter: 24-year-old swimply co-founder thought his new pool-rental company would help homeowners cover some costs during covid, and give relief to those shut out of public pools but this summer -- >> with restrictions being removed, people are a lot more comfortable hosting. people are a lot more comfortable not just going with their own family but with other families and other friends >> reporter: after its remarkable debut, swimply raised $10 million from eager investors and is now able to offer owners property insurance that was a game changer. it's now seeing nearly-five times the revenue from a year ago. the number of hosts surged nearly 350%, to 15,000 and the number of users jumped over 400%, to about half a