Aramco Report

The Blog
Homes selling at fastest pace in 2 years

In yet another indication that the housing market is not being dragged down by the coronavirus pandemic, home sales are entering the summer on a hot streak. According to an analysis by Zillow, homes are selling at a faster rate than at any time since spring 2018. As of mid-June, the typical home li...

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Volume of homes in forbearance increases again

As businesses began reopening and furloughed workers returned to work, the number of mortgages in the U.S. under an active pandemic related forbearance plan stabilized. But after three consecutive weeks of declines, Black Knight is reported that there has been a recent uptick that has erased nearly...

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Senior housing wealth reaches new record

Homeowners in U.S. who are 62 or older are amassing a growing amount of wealth in their homes according to a new report. The National Reverse Mortgage Lenders Association reported last week that senior housing wealth reached a record high of $7.54 trillion as of Q4 2019. While many retirees lack su...

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Record number of California homeowners living mortgage-free

The surety of owning your home free and clear is a long-term goal for many homeowners but in California, one-in-five are already living that dream. According to a report from Construction Coverage, a building industry information service, 20.1 percent of California homeowners don’t have a mortgage....

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Housing market appears immune to economic downturn

The combination of a volatile stock market, shuttered businesses and record unemployment spell trouble for the economy. Bu the saving grace may be the U.S. housing market which appears to have weathered the worst of the pandemic thus far, unscathed. A housing market collapse was the harbinger of t...

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New home sales jump in May

After months of stay-at-home orders, home buyers broke lose in May and headed to the nearest model home. Sales of newly constructed homes jumped 16.6. percent last month as low mortgage rates and a shortage of resale homes drove buyers to new construction. Single-family new home purchases rose to 6...

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Report: Housing inventory plummets

New data from online real estate site Zillow shows that the supply of homes on the market is growing thinner and thinner as the summer home buying season heats up. Housing inventory is now 17.1 percent below last year’s level and there are currently 3.8 percent fewer new listings on a week-over-week...

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May home sales experience COVID slump

Sales of existing homes fell 9.7 percent in May from the previous month, according to a new report. Home buyers continued to adhere to stay-at-home orders during the month leading to decline. Previously owned homes dropped to a seasonally adjusted annual rate of 3.91 million, the lowest annualized s...

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Housing market showing early signs of recovery

The coronavirus pandemic may have stalled the housing market in April but new data shows that that downturn was short-lived. According to Redfin, contracts to buy a home saw a substantial increase from April to May, an early indication that recovery for the housing market may not be as prolonged as...

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Survey: sellers willing to compromise on price

Listing a home during a global pandemic is certainly not the sellers-market conditions many homeowners had hoped for this summer. And while demand remains high, sellers are recognizing that they may need to be a little flexible when it comes to their price expectations. According to a new survey of...

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