San Diego’s Dexcom began sales this week of Stelo, the industry’s first FDA-approved continuous glucose monitor that doesn’t require a prescription. With a two-pack of the biosensor costing just under $100 per month, the local company aims to tap a new market of users and increase access to this technology.

Now, people without health insurance coverage for such devices have the option to buy Stelo directly from Dexcom’s website. The device is geared toward adults 18 years and older with type 2 diabetes who are not taking insulin and who do not have problematic hypoglycemia or low blood sugar. The device can be worn for up to 15 days before needing to be replaced.

A one-off purchase of a single pack with two sensors — which lasts 30 days — costs $99. There’s also a monthly subscription option, which costs $89 for two sensors to be delivered every 30 days. The device is eligible to be purchased using funds from a Flexible Spending Account or a Health Savings Account.

Stelo — which was cleared by the U.S. Food and Drug Administration for over-the-counter use in March — is a wearable device that fits in the palm of your hand. It is worn on the back of the user’s upper arm to track blood glucose levels — no finger prick required. Stelo connects to a smartphone application as it constantly measures, records and analyzes the user’s glucose levels and then presents those results in the app every 15 minutes.

For more than two decades, Dexcom has been a pioneer of the technology that helps patients manage diabetes via continuous glucose monitors. Now, the company hopes to reach people who don’t have health insurance coverage for this kind of device, people who don’t take insulin and those with prediabetes who simply want to track their blood glucose levels.

“With the launch of Stelo, we’re defining a brand-new category and once again setting the gold standard for people to easily take control of their health,” said Jake Leach, executive vice president and chief operating officer at Dexcom. “Now, millions more have access to 24/7, easy-to-understand glucose insights that can inform their daily lifestyle choices and support behavior modification.”

Dexcom said the use of its continuous glucose monitors on its own or alongside other diabetes or weight management tools can help people understand how different foods or activities affect their glucose levels.

When Dexcom announced the rollout of Stelo earlier this summer, industry analysts noted the opportunity to tap a growing market of users beyond diabetes patients. Part of this untapped group could be a result of more awareness of metabolic health and disorders as well as the popularity of GLP-1 weight loss drugs such as Ozempic and Wegovy.

“Dexcom glucose biosensors are an essential and proven tool for diabetes management — driving strong clinical outcomes regardless of medication use and even potentially slowing the progression of diabetes,” said Thomas Grace, MD, head of clinical advocacy and outcomes at Dexcom. “In a world where GLP-1 use is becoming increasingly more common, glucose biosensors like Stelo can help make those medications more effective.”

By Elizabeth Renter | NerdWallet

Home prices may have come down from their 2022 high, but they remained out of reach for the typical would-be first-time buyer in the second quarter, especially in the nation’s most populous areas.

Buying a home in this market can be particularly hard for people who haven’t done it before. First-time buyers traditionally have lower incomes and less established credit than repeat home buyers. Further, they generally make smaller down payments — 8%, on average, according to the most recent Profile of Buyers & Sellers from the National Association of Realtors, compared with 19% for repeat buyers. Buying a first home has arguably never been easy, but it’s gotten extremely difficult under current conditions.

With a down payment of 8%, housing payments on a typically priced home in the second quarter of 2024 would equate to almost half of the median gross monthly income for Americans of first-time buyer age.

Making a larger down payment or choosing a less desirable home could make this initial purchase easier, but not all homebuying hopefuls will find those options possible.

Housing payments for first-time buyers: 49% of income

The average sticker price for a home in the second quarter of this year was $439,000, according to NerdWallet analysis of Realtor.com data. But the advertised price of a home is far from the only consideration of affordability.

For that reason, we examined the potential housing payment for first-time buyers in the second quarter. This payment not only accounts for the price of the home, but also the typical first-time buyer down payment, mortgage rate, real estate taxes, homeowners insurance and PMI, or private mortgage insurance — a requirement on conventional mortgages financed with less than 20% down.

That estimated monthly housing payment using the nationwide average home price was close to $3,500 in the second quarter of the year. That’s 49% of the median income for Americans in the first-time home buyer age group. And estimated payments in some of the country’s largest metro areas were considerably higher.

First-time home buyer tip: In the highest-priced markets such as Los Angeles, New York and San Diego, putting 8% down on a home may not be feasible. That’s because typical home prices in these areas are well over one million dollars, and would require what’s known as a jumbo mortgage. Currently, loans over $766,550 exceed the cap for conforming loans, according to the Federal Housing Finance Agency, and jumbo loans generally have stricter standards, including larger down payment requirements. Buyers in these markets will need higher-than-average incomes, larger down payments and flexibility on their side to become homeowners.

In other areas, buyers hoping to put less than 20% of the sale price down have more options. Many lenders offer loans with lower down payments — as low as 3% — and most states have first-time home buyer programs with benefits such as down payment assistance.

Buyers (and borrowers) have a few options

One lesson that became apparent to home buyers over the past few years: You can’t take low mortgage rates for granted. After several years of rates below 5% (with periods even below 3%), current rates are a reminder that it’s not only home prices that matter in home affordability calculations. Borrowers can take some steps to ensure they qualify for the lowest rates available, but lenders will only go so low. Home down payments are another input that can have a considerable impact on how much buyers spend each month.

Increasing a down payment from 8% to 12%, for example, can shave several hundred dollars off of the monthly housing cost. But if possible, increasing your down payment to 20% can eliminate the PMI requirement on a conventional loan.

First-time home buyer tip: To be sure, putting 20% down on a high-priced home won’t be possible for all first-time buyers. It’s an especially tall order when homes are priced as high as they are now. But the larger your down payment, the less you have to finance, and every bit helps. So, for instance, if you’re waiting for mortgage rates to come down a bit, using that time to intentionally squirrel away more in savings means you can also take out a smaller loan when you’re ready to start shopping. If you hope to buy in the coming months, keeping your down payment fund in a high-yield savings account ensures it’s readily available. But if you plan on waiting a year or two and can stand putting the money out of reach, a certificate of deposit may offer higher rates.

Inventory deficit remains the driver of high prices

The high home prices we currently see are a direct result of too few homes. This low supply in the face of high demand drives prices up. And currently, the supply is so low that even seasonal quarterly gains in inventory aren’t enough to provide relief.

The second quarter of the year generally brings more listings to the market, and Q2 of 2024 was no different. Across the country, the number of homes on the market rose by 17% compared with the previous quarter, and a generous 34% compared to last year’s second quarter. Despite these gains, list prices rose 4% in the second quarter.

While inventory continues to climb, the current number of homes on the market at any given time is still at a significant deficit from where it was before the pandemic.

First-time home buyer tip: In the past, first-time buyers began their homeownership journey with a “starter” home — something smaller or a home that needed some work — to help keep the price point reasonable. But in this market where homes are few and far between, starter homes are difficult to find. One way to increase the number of homes available to you is to expand your search. Whether geographically — looking at homes in different neighborhoods or even towns — or by considering home types or features that aren’t on your long-term wishlist, the more flexible you are in your homebuying journey, the more likely you are to find something that fits the bill.

The analysis methodology is available in the original article, published at NerdWallet.

Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com. Twitter: @elizabethrenter.

The article Q2 Affordability Obstacles Hinder Would-Be First-Time Home Buyers originally appeared on NerdWallet.

Two months after ousting Natalie Darwitz as its general manager, Minnesota’s PWHL team has hired a new GM, longtime AHL executive Melissa Caruso.

A St. Paul resident, Caruso most recently spent five years as vice president of hockey operations and governance at the American Hockey League, the top minor league for the NHL.

Melissa Caruso (Courtesy PWHL)

“Melissa stood out as the ideal candidate,” PWHL senior vice president for hockey operations Jayna Hefford said in a statement.

Caruso and Hefford are scheduled to speak to reporters on Wednesday.

“It’s an exciting time for women’s sports, and I thank leadership for trusting me with the opportunity to lead PWHL Minnesota during these crucial formative years for the league,” Caruso said in a statement. “I can’t wait to get started on the journey to defend the Walter Cup in Season Two.”

Minnesota, which plays at Xcel Energy Center, won the Walter Cup as champion of the PWHL’s season, rallying past regular-season champion Toronto by winning the last two games of the five-game finals series.

The team was built by Darwitz, the former Gophers star, U.S. Olympian and Hamline head coach who used the first pick in the first PWHL draft to take Patty Kazmaier Award-winner Taylor Heise, whom she coached as an assistant at Minnesota. Heise was the leading scorer in the PWHL postseason with five goals and eight points.

But Darwitz was fired a month later after what Hefford called a lengthy internal and external review.

“The feedback to us was pretty direct and pretty clear that there wasn’t a path forward with the current personnel in place,” Hefford said during a June 8 Zoom interview with select members of the media that did not include the Pioneer Press. “It was with the work we did throughout the year, and it was clear that a change needed to be made.”

At the time, Darwitz said she was proud of what the team had accomplished but declined to address her exit.

Caruso started at the AHL as an intern in 2009 and worked her way through a handful of positions before becoming a vice president in 2015.

“Her strong background in operations and governance, combined with her extensive hockey knowledge and leadership experience, make her a great fit for the role,” Hefford said. “Additionally, Melissa’s passion for the game, along with her ties to the local community, positions her perfectly to lead the team both on and off the ice.”

The PWHL will release its 2024-25 schedule at a later date.

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