Aramco Report

The Blog
Tesla to build solar neighborhood

In an announcement last week, Tesla CEO Elon Musk announced the company’s first major investment in a housing development. The Tesla Solar Neighborhood in Austin, Texas has been provisionally named SunHouse at Easton Park and will be powered by a variety of solar technologies developed by Tesla. Th...

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Home inventory levels see slight increase in June

Housing inventory improved slightly last month as 1.25 million units were listed for sale, up 3.3 percent from May. This follows four consecutive months of declines in inventory levels nationwide and helped boost existing home sales by 1.4 percent in June. This latest data is from the National Assoc...

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Rising housing prices impacting college students

Enrollment in some of California’s biggest universities is reaching record levels this year but begs the questions – where will all these students live? Rent prices surrounding colleges are notoriously costly and the ongoing housing shortage that has been driving up rental costs as well is impacting...

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Homebuilder confidence slips amid growing construction costs

Although homebuilders remain pleased as buyer demand continues to promise them a bright future, concerns about rising construction costs have chipped away at their confidence. The monthly sentiment index from the National Association of Home Builders shows that confidence among America’s homebuilder...

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How the pandemic reshaped the housing market

Americans who are buying or selling a home in 2021 can tell that the housing market this year is unlike any other. Record high home prices, a limited selection of properties to pick from and fierce competition. This is radically different from years past when sellers needed to wait weeks or even mon...

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Zillow: certain home colors can boost its sales price

Practically every home buyer has had that moment when they are looking at pictures of an online listing and see a home’s interior décor and think to themselves, “What were they thinking!” Apparently, this type of reaction can actually impact a home’s sales price. According to a new analysis from Zi...

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Reverse mortgages spike as older homebuyers upsize

More of America’s seniors are utilizing a reverse mortgage to purchase their next home, according to a new report. A study from Reverse Mortgage Funding LCC, shows that a quarter of 170 home buyers surveyed say they would not have been able to purchase their new property without using a reverse mort...

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Competition is down but housing market still red hot

According to a new report by online real estate site Redfin, the housing market cooled slightly in June as measured by competition among buyers. While competing offers may have declined slightly last month, this cooling only turned down the temperature by a couple of degrees in a hot market. Sixty-...

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Most Americans still view homeownership as a path to building wealth

The quintessential American dream still includes owning a little piece of earth. According to the findings of a survey conducted by Chase Home Lending of first-time homebuyers, 69 percent of respondents still see homeownership as an important part of building wealth. Still, the majority of first-ti...

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Survey: Most homebuyers avoid fixer-uppers

While the vast majority of homebuyers seek properties that are move-in ready, new data shows that the typical for-sale home could need close to $30,000 in repairs. Meanwhile, according to survey from Thumbtack and Zillow, the average millennial homebuyer expects to pay just between $10,000 to $15,00...

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