Aramco Report

The Blog
Black Friday home shopping

Even amid a gobal pandemic, many major retailers in the U.S. have announced they will be opening up their doors for shoppers on Thanksgiving evening before the pecan pie is even digested. In search of bargains, Americans are expected to spend billions this year Black Friday shopping. While many may...

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Vacation home sales skyrocket

As millions remain confined in their homes due to the ongoing pandemic, Americans are finding a new way to escape the day-to-day. Sales of vacation homes are rising at a staggering rate according to a new report. In October, demand for second homes from buyers surged 100 percent from a year earlier...

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Prop 19 could free up much needed housing

By a small margin, Californian’s voted earlier this month to approve Proposition 19, a motion that allows older homeowners to receive property tax breaks. The passage of the proposal could lead to a surge of seniors wanting to sell their homes now that they are don’t have to face a large tax bill on...

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Mortgage originations hit 13-year high

With mortgage rates continuing to hover near record lows, the rate at which new mortgages are originating is experiencing a surge not seen since 2007’s housing boom. ATTOM Data Solutions released its third-quarter 2020 U.S. Residential Property Mortgage Origination Report last week which showed 3.25...

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Survey: homebuyers compromising on “dream home”

More than half of homebuyers claim they have had to make some major compromises when searching for their ideal home in today’s market. According to a survey conducted by Flyhomes of 1,000 Americans, 56 percent revealed that compromises were necessary when making offers compared to their must-have li...

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Existing home sales reach 14-year high

After a sluggish start to the year as the coronavirus pandemic took hold in the U.S., the housing market has made a complete turnaround. Sales of previously owned homes have climbed to a new 14-year high as of October according to new data from the National Association of Realtors. Existing home sa...

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California housing market continues record breaking streak

The global pandemic that continues to rock the U.S. economy has not stopped Californians from going after their dream home. According to information from the California Association of Realtors, October saw a continuation of double-digit growth of California home sales and just a hair under September...

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Home construction projects gets much needed boost

The rate at which new homes are being built in the U.S. surged in October to the fastest pace in months. According to new data from the Department of Commerce, residential stated increased 4.9 percent last month to 1.53 million units on an annualized basis. This is the fastest pace recorded since Fe...

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Multi-generational living grows in popularity during pandemic

More home buyers are searching out new homes that can accommodate their older family members according to a new report. As senior living centers have grown to be lethal hotspots because of the coronavirus, family members are working hard to keep their older relatives at home. The National Associati...

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Nearly two-thirds of San Diego home sales end with bidding war

Across the U.S. buyers are competing with one another for the limited selection of homes for sale. According to new data from Redfin, 56.8 percent of offers made on the real estate site had multiple bids as of October. While this is slightly down from the 59.3 percent peak reached in August, it repr...

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