Aramco Report

The Blog
Mortgage debt hits record high in 2019

The level of mortgage debt Americans are carrying reached a record high in Q3 2019 of $15.8 trillion. According to LearnBonds.com, this is the highest level since the peak of the economic crisis in 2008 when debt levels stood at $14.7 trillion. Mortgage debt has steadily climbed since the Great Re...

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Home values reached new record

Homeowners in the U.S. were given some positive news last week as new data shows they are sitting on more real estate wealth than ever. According to a new report from the Federal Reserve, the value of all U.S. owner-occupied homes increased to an all-time high of $29.2 trillion as of the third quart...

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Housing inventory slips to 2-year low

A steady job market, wage growth and favorable mortgage rates are firing up the housing market this winter. The one setback appears to be that the steady stream of buyers have no place to move to. A report from Realtor.com shows that housing inventory nationwide in December fell to its lowest point...

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Bidding wars decline to 10-year low

Demand for homes is still high but competition for them appears to be cooling. Just nine percent of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in December. This is down from 12 percent a year earlier and the lowest volume since 2009. The story was q...

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Demand for new homes expected to remain high

After plummeting to anemic levels during the Great Recession, housing production struggled throughout much of the last decade to keep up with demand. As the economy recovered and people began returning to the housing market, new home building failed to make a timely comeback. Despite the setback, h...

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Consumer confidence bolstered by low mortgage rates

According to Fannie Mae, housing market sentiment climbed in December, driven by a strong labor market and low mortgage rates. The Home Purchase Sentiment Index rose to a reading of 91.7 last month, nearing the all-time high of 93.8 set in August. Both sellers and buyers are optimistic about the s...

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San Diego expected to be hottest Calif. housing market in 2020

A panel of experts from online real estate site Zillow have concluded that San Diego is likely to be the hottest home market in California this year. Although home values are expected to grow at a slower rate in 2020, 2.8 percent, a quarter of panelists expected San Diego to our pace the rest of the...

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California’s new homes go green

California has started of 2020 by implementing several new laws that will require the state’s homebuilders and residents to go green. As of January 1, all newly constructed homes and low-rise apartment buildings in the state are required to be built with solar panels. The Golden State is the first...

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Home buying season may come early this year

The late-spring and summer months are traditionally considered to be when home sales are at their peak but with favorable market conditions, experts say home buying season may come early this year. According to a report from Realtor.com, the month of January in recent years has had the second-most l...

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Foreclosure starts drop to 20 year low

Foreclosure starts have declined to their lowest level since 2000 according to a new report from Black Knight. November’s foreclosure starts were down 26 percent from last year and down three percent from October. Mississippi had the highest foreclosure start rate in November at 10.44 percent. This...

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