Aramco Report

The Blog
Housing shortage made worse by pandemic

For years growth in the housing market has been hindered by a crippling shortage of homes for sale. The coronavirus pandemic has only made the problem worse. According to a new report released last week from Realtor.com, in the roughly six months between the start of the pandemic in March and mid-Se...

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Homeowners falling behind on mortgage payments as pandemic stretches on

After months of deferring mortgage payments, homeowners are struggling to get back on their feet as the coronavirus continues to impact their finances. A new data study released by Clever Real Estate has found that nearly half of all homeowners who missed a payment this year are at least $2,000 bein...

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Home affordability shrinks in 2020

Home prices in the U.S. have risen sharply over the past several months, shrinking the pool of affordable homes to most buyers. ATTOM Data Solutions released its Q3 2020 U.S. Home Affordability Report last week which showed that home prices in the third quarter were less affordable than they were a...

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American homeowners rich in equity

A significant increase in home values in Q2 helped American homeowners achieve even greater levels of equity in their homes. CoreLogic reported this week that a 4.3 percent gain in home prices over the past year has led to a 6.6 percent surge in equity. Homeowners saw an average increase in equity...

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Home sales rise for third consecutive month

The volume of sales of previously owned homes climbed again in August according to a new report from the National Association of Realtors. This marks the third consecutive month of increases after a major slowdown earlier in the year due to the novel coronavirus taking hold in the U.S. Home buyers...

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First-time homebuyers dominate housing market

Despite a decrease this past summer, largely due to the coronavirus pandemic, first-time homebuyer activity remains the most active segment of purchases in the housing market. According to Genworth Mortgage, 40 percent of single-family homes purchased during Q2 2020 were by first-time buyers. Histo...

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Home flipping popularity grows in 2020

A new report released last week shows a growing rate of Americans are participating in the real estate investment practice known as home flipping. ATTOM Data Solutions’ second-quarter 2020 U.S. Home Flipping Report shows that there were 53,621 single-family homes and condominiums in the United State...

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Americans spending more on home improvement projects

Most options for a lavish summer vacation were off the table this year as the coronavirus pandemic kept people at home. As a result, Americans are spending more on making their home a better place to work and play with home improvement projects. According to a new survey conducted by Wells Fargo, m...

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Mortgage lending volume expected to break records this year

Mortgage giant Fannie Mae is reporting that lending volume for 2020 will likely reach $3.9 trillion, a new all-time high. This record will largely be attributable to a boom in refinancing which is expected to reach $2.4 trillion by the end of the year. The refinance volume is the highest level since...

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Builder confidence in housing market at all-time high

With mortgage rates remaining near historic lows, the demand for housing from Americans is expected to remain on an upward trend. As a result, the nation’s homebuilders are expressing a confidence in the future of the housing market that hasn’t ever been seen before. The National Association of Hom...

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