Aramco Report

The Blog
Home from ‘Nightmare on Elm Street’ hits market in time for Halloween

The house made famous in the 1984 horror movie ‘Nightmare on Elm Street’ is up for sale. In keeping with the spooky spirit of the property, listing photos show Freddy Krueger in the home’s den, relaxing by the pool and taking a soak in the tub. The property’s listing agents, Heather T. Roy and Leark...

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Retirees are changing their plans because of COVID

The ongoing pandemic has impacted the housing market in a variety of ways including how Americans are planning for their retirement. According to a new survey from U.S. News & World Report, nearly 25 percent of 3,000 Americans polled, stated they have changed their mind about where to retire due to...

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Home sales spike in September as mortgage rates motivate buyers

The sales volume of previously owned homes saw a sharp seven percent increase in September to a seasonally adjusted annualized rate of 6.29 million units. The National Association of Realtors reported this week that despite the median sales price being 13.3 percent higher than it was a year ago, tot...

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Senior home equity levels on the rise

The National Reverse Mortgage Lenders Association reported this week that new data shows senior homeowners saw their housing wealth grow by an average of 3.7 percent in Q2 2021. This equates to a $339 billion increase in home equity levels for homeowners over the age of 62, bringing their total mark...

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U.S. homebuilding falls in September

A decline in homebuilding in the U.S. last month surprised economists who had expected an increase in construction activity. Housing starts fell by 1.6 percent in September to a seasonally adjusted annual rate of 1.555 million units. This data provided from the Department of Commerce is starkly diff...

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Calif. home sales post largest monthly gain in a year

After four months of consecutive declines, home sales in California reversed course and posted it’s largest gain in home sales in over a year. This latest data comes from the California Association of Realtors. In total, closed sales of single-family detached homes in the state was up 5.6 percent i...

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Homes selling faster than the ordinarily due in the Fall

Nearly one out of every three homes that have been sold over the last month were under contract within a week. This is according to an analysis of home sales from Redfin. This is a faster pace than is typically seen at this time of year, when home sales generally slow down. This latest data point i...

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Consumers split about the state of the housing market

Fannie Mae’s latest National Housing Survey found that consumers have varying opinions about the current state of the U.S. housing market. According to the latest data, 28 percent of respondents say now is a good time to buy a home while 66 percent say it is not. However, the same survey found a sma...

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Americans choose to refinance their mortgages for many reasons

Homeowners in the U.S. are refinancing their homes at a greater rate than they have over the past couple of years. This is driven primarily by such favorable conditions for borrowers who can refinance their existing mortgages in to an ultra-low fixed rate. But a new survey conducted by LendingTree h...

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Foreclosures climbing across the U.S. but still low by historical norms

The number of foreclosure filings in the U.S. climbed 34 percent in Q3 from the previous quarter but remains close to 60 percent lower than pre-pandemic norms. ATTOM released its Q3 2021 U.S. Foreclosure Market report this week which showed that there were a total of 45,517 new default notices filed...

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