Aramco Report

The Blog
Limited housing inventory hits December hard

The shrinking supply of homes for sale at the end of last year hit December sales volume in a big way. Closed sales of previously owned homes dropped last month by 4.6 percent from November and 7.1 percent from December 2020, according to the National Association of Realtors. Experts pointed out...

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Home construction ramps up

Home builders in the U.S. are combatting high costs and labor shortages but that doesn’t appear to be slowing them down. According to a recent report from the U.S. Department of Commerce, U.S. homebuilding has increased to a nine-month high as of December, driven largely by a surge in multi-family h...

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2021 Calif. home sales reached 12-year high

The pace of home sales in California may have moderated slightly at the end of the year but that didn’t keep it from topping 2020’s sales pace by nearly eight percent. The seasonally adjusted annualized rate of home sales in the state reached 429,860 in December. The sales pace for the entire year w...

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Home builder confidence drops amid rising costs

For the first time in four months, builder confidence in the future of the housing market has declined. Although the drop was by a single point, it signals a shift in the industry that is facing rising construction costs and labor challenges. The National Association of Home Builders/Wells Fargo Hou...

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Luxury car maker gets in to the real estate business

Home buyers: start your engines. Luxury car brand, Bentley is partnering with Dezer Development to build a condo tower in Sunny Isles Beach, Florida. The first ever venture in to residential real estate by the car builder is an attempt by the brand to deliver its particular brand of elegance to the...

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Eco-friendly Palm Springs home hits the market for $3.5m

For a cool $3.495 million you can be the owner of a Palm Springs resort style hideaway. If that price seems a little high, potential buyers can take comfort in knowing they may be able to save money on the A/C bill. The Jersey Devil architectural firm that designed the house built it with sustainabi...

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House hunters rush to buy ahead of possible mortgage rate increases

The typical winter slowdown of the housing market appears to be on hiatus this year as homebuyers continue to flood the market. Many potential homebuyers are concerned that mortgage rates will continue to rise as the year progresses and are making the choice to lock in a purchase before that happens...

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Freddy Krueger house sells for $3 million

The iconic home featured in the film “A Nightmare of Elm Street” has been sold in Los Angeles for $2.98 million. A property well known to horror flick fans, the three-bedroom Dutch Colonial on the tree-lined Elm Street was a focal point in 1984’s Wes Craven’s Freddy Krueger movie. The $3 million pri...

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2021 home foreclosures far lower than expected

There were 151,153 properties with foreclosure filings against them in 2021. This is equivalent to 0.11 percent of all U.S. housing units, down from 0.16 percent in 2020 and 2.23 percent less than the peak reached in 2010. This latest data comes from ATTOM’s Year-End 2021 U.S. Foreclosure Market Rep...

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The value of good neighbors

A new study proves what many Americans have known all along: pleasant neighbors can make homeowners happier. According to a survey conducted by StorageCafe, a storage unit search site, satisfaction with one’s neighbors can impact how homeowners feel about where they live. The survey of 11,000 Ame...

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