Aramco Report

The Blog
Look-outs before deferring your mortgage

In order to pull the U.S. economy and its citizens away from a financial cliff, the federal government passed the CARES Act, which among other things, allows homeowners to defer their mortgage payments for months. However, there are several items to consider before doing this. The CARES Act prevent...

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New home listings plummet

If home inventory levels weren’t tight enough before, they certainly are now. As the nation continues to grapple with the national emergency caused by the coronavirus pandemic, a new report shows an unprecedented decline in new home listings. Data from Realtor.com shows a 44.1 percent decline in ne...

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Coronavirus causing Americans to rethink city life

With the pandemic hitting densely populated urban dwellers the hardest in places like New York, Philadelphia and Los Angeles, many Americans are considering relocating to the suburbs. According to a Harris Poll conducted last week, urbanites are twice as likely as those living in the suburbs to sear...

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Trouble may be brewing for homeowners who defer mortgage payments

Government intervention to prevent renters from being evicted and homeowners from being foreclosed upon has provided some measure of relief to Americans during the pandemic but questions are arising about whether more should be done. While many banks are offering mortgage relief to borrowers, payme...

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Consumer confidence crumbles in April

The coronavirus is wreaking havoc on the American way of life and as a result consumers are growing weary of the future. The Consumer Confidence Board Index reported last week that American’s impressions of the economy and its direction fell from a March reading of 107.5 to 75.2 in April. This repre...

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San Diego home prices climb in February

Home prices in San Diego grew at a faster pace than any other major metropolitan area in California according to new data. The S&P CoreLogic Case-Shiller Index for February showed that prices for San Diego homes climbed 4.6 percent during the month. While this latest available data reflects a perio...

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U.S. homeownership rate climbs in Q1

In the era before coronavirus, the housing market was expanding by reaching a 7-year high in the national rate of homeownership. According to data from the U.S. Census Bureau, the homeownership rate in the first quarter of 2020 climbed to its highest levels since 2013 with a 1.1 percent year-over-ye...

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Housing market appears stable amid pandemic

After a sizable decline in home sales in the last two weeks of March due to the implementation of shelter-in-place orders, the housing market appears to be stabilizing. As most Americans begin to enter their second month of lockdowns, a report from Zillow shows that the housing market is recovering...

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Report: Home sellers not intimidated by pandemic

In a report from the National Association of Realtors, homeowners listing their homes for sale are not overly concerned about a slowdown in the housing market due to the ongoing pandemic. In fact, according to a poll by the NAR, 75 percent of real estate agents report that sellers are refusing to lo...

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Home price growth accelerated in February

The first case of the novel coronavirus in the U.S. was discovered in January but it wasn’t until late February that Americans began to understand the a global pandemic that would upend life as we know was on the horizon. As a result, a new report shows that demand for housing and ensuing price incr...

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