Aramco Report

The Blog
FHA extends pandemic relief benefits through June

The Federal Housing Administration announced last week that it would be extending a variety of pandemic-related benefits and operating conditions through the end of June including relaxed appraisal requirements and a moratorium on foreclosures. “We made it clear at the beginning of this pandemic th...

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Report: home sales could bounce back by fall

Experts at Realtor.com made an ambitious prediction in a new report last week that home sales in the U.S. will rebound by late summer or early fall. Nearly all states in the U.S. have begun or are about to begin some stage of reopening as of mid-May. Realtor.com’s housing forecast predicted an upti...

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San Diego home sales rise as inventory tumbles

Stay-at-home orders haven’t seemed to deter homebuyers in San Diego, even as they face shrinking inventory levels and rising prices. According to data from Redfin, the number of homes for sale in San Diego County fell 31 percent from April to May. Sellers who had previously listed their homes change...

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Foreclosure filings plummet to 15-year low

A moratorium on foreclosures implemented by the federal government last month has led to a 70 percent decline on new filings from March to April. In total there were 14,148 U.S. properties with foreclosure filings against them in April, according to ATTOM Data Solutions. This is the lowest monthly f...

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Renters still making payments on time

While the number of homeowners who have put their mortgages in to a state of forebearance, renters in the U.S. appear to be staying on top of their payments. Over 80 percent of apartment households paid their rent on time for April according to The National Multifamily Housing Council’s latest Rent...

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Mortgage lenders tighten standards

The pandemic has made it increasingly difficult for borrowers to obtain a mortgage according to new data. The Mortgage Bankers Association reported last week that its Mortgage Credit Availability Index fell to 12.2 percent in April to its lowest reading since December 2014. Declines in the Index sug...

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Home prices rise during pandemic

Record joblessness, shuttered businesses and a volatile stock market are all part of an economy on uneasy ground. But in the midst of all this turmoil, home prices keep pushing higher. While some economists warn that an impact on the housing market may be on the horizon, for now it appears to be the...

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Pandemic taking its toll on demand for housing

An upward trend in housing demand and consumer sentiment were stopped cold in March and April as the novel coronavirus altered the American way of life. After falling significantly in March, consumer sentiment regarding the housing market fell even more in April. The Fannie Mae Home Purchase Sentime...

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Number of equity rich homeowners growing

The wealth being realized from owning a home in the U.S. is growing. Nearly one out of every four mortgaged homes have a loan value that is 50 percent or lower than the estimated market value. This latest information comes from ATTOM Data Solutions’ first-quarter 2020 U.S. Home Equity & Underwater R...

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Millennials drive increase in new-home transactions

Being cooped up at home has many Americans considering a move. John Burns Real Estate Consulting, as reported by Realtor Magazine, showed that new-home transactions have doubled in the last two weeks alone. Those 31 to 40 years old are displaying an increasing interest in moving and buying a home. T...

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