Aramco Report

The Blog
U.S. housing starts tumble in July

A dip in housing starts last month will continue to choke off much needed inventory. According to the U.S. Department of Commerce, housing starts nationwide fell seven percent in July compared to the prior month. Builders remain concerned about rising costs, material shortages and delayed approval f...

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Report: Housing affordability woes likely here to stay

Anyone who has tried to buy a new home this summer has probably experienced the challenges of slim supply, rising prices and bidding wars. According to a new report, these obstacles are likely to not only continue but actually worsen by the end of the year. An analysis from Zillow shows that mortga...

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Home builder confidence drops to 14-month low

The concerns from home builders about rising construction costs and labor shortages is taking its toll. The National Association of Home Builders reports that its NAHB/Wells Fargo Housing Market Index for August fell five points to a reading of 75. This is the lowest it has been since June 2020. Al...

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Sellers making home price adjustments as listings linger

No matter how high demand is for homes, there is a line that buyers just don’t seem to want to cross. In some regions, sellers are starting to see their homes linger on the market for a longer period of time. As a result, many are making price cuts. “Price cuts could signal a turning point in the m...

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Foreclosures down in July but above 2020 levels

The coronavirus pandemic, including all the homeowner protections introduced as a result, greatly reduced the number of foreclosures in the U.S. in 2020. The current number of foreclosure filings is some 40 percent higher than last year when the nation was in the throes of the first wave of COVID-19...

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New U.S. Census data reflected in housing market

The U.S. population is more diverse than ever before. According to new data learned from the 2020 Census, people of color account for 43 percent of the total U.S. population. That is up from 34 percent in 2010. In California, Hispanic households outnumbered all other races or ethnicities for the fir...

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Bidding wars bleed over to rental market

The bidding wars that have become commonplace in buyers’ quest to purchase a home is now expanding in to the rental market. According to a new report, the demand from renters is so high that there are sometimes dozens of applications for a single rental unit. The average credit rating and income o...

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Tom Hanks puts his movie home up for sale

The Airstream that actor Tom Hanks lived in while filming “Forrest Gump” and “Apollo 13” is up for sale at the Bonhams Quail Lodge Auction as of last week. It’s estimated price is between $150,000 and $200,000. In statement the two-time Oscar winner said that the unit is a custom-built 33-foot Airst...

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Millennials have the most regrets after buying a home

In today’s frenzied housing market, buyers may be tempted to rush into a deal even if it means compromising on the home they want, stretching the budget too thin or picking a neighborhood they didn’t want. These things can lead to buyer's remorse and according to a survey from Bankrate, that is part...

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The hottest housing market in the U.S. may surprise you

Think the most in demand housing market in the U.S. is in Southern California? Think again. According to a new report from Realtor.com, it is actually Colorado Springs. Realtor.com examined 29,000 zip codes across the U.S. during the first half of 2021 and ranked them by how quickly listed homes wen...

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