Aramco Report

The Blog
Home prices rising twice as fast as incomes

The median sales price for homes sold in the U.S. in July rose 8.5 percent according to a new report. This is more than double the 4.1 percent increase in family income reported for the month. The National Association of Realtors reported this week that the its affordability index for all major mark...

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Share of young-adults living with parents is highest since 1940

It seems like a repeat of the trend that occurred a decade ago when Millennials, facing a shrinking workforce during the Great Recession resorted to returning home to live with their parents. Now, it’s happening again but rather than an economic collapse being the reason, it is a global pandemic. A...

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Californians stretching budgets to own a home

The general rule of thumb is that those looking to buy a new place to live shouldn’t spend more than three times their annual salary on a home purchase. But in high priced markets like California, that guideline makes it all but impossible to become a property owner. According to a new study from L...

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Foreclosures resuming as moratoriums expire

A moratorium on evictions and foreclosures put in place on most lenders at the height of the coronavirus pandemic have helped keep the number of distressed properties in the U.S. a historically low levels this summer. But that may soon be changing. ATTOM Data Solutions reported last week in its Aug...

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Shortage of homes may be culprit in slower economic recovery

Real estate activity was higher last week than it was before the pandemic began, a sign of resilience and a positive economic outlook for the near future. However, a shrinking supply of homes for sale may soon put the brakes on this speedy road to recovery. Realtor.com’s Housing Market Recovery Ind...

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Calif. Wildfires could have long-term implications on real estate

The life-threatening danger posed by the wildfires ravaging California could have a long-lasting impact on the states housing market. CalFire, California’s fire-fighting agency, reports that nearly three million of the state’s 12 million homes are current at risk due to wildfires. In the era of the...

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9/11 attacks lasting impact on housing

Nineteen years since the fateful day the Twin Towers fell, America remembers and mourns the loved and lost. That day remains a pivotal turning point for the U.S. in many ways and a demonstration of the resilience of the American spirit. Monetary policy, the economy and the housing market all experie...

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Low mortgage rates producing more buying power

With such strong demand, the prices of homes for sale are rising. While this is ordinarily the first thing house hunters look for when shopping for a new place to live, experts suggest buyers looking beyond the list price and consider long-term costs as well. Taking that in to consideration, buyers...

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Frequency of home buying bidding wars on the rise

Over half of the home offers made through Redfin are facing a bidding war the online real estate site says. August was the fourth consecutive month that the rate of bidding wars increased as low mortgage rates prompt more buyers to fiercely compete for the limited supply of homes on the market. Near...

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Record low mortgage rates help home buyers stretch budget

Thanks to mortgage rates near all-time lows, a homebuyer with a monthly housing budget of $2,500 now has $33,250 more buying power than a year ago. This is according to data crunched by online real estate site Redfin. Based on current average 30-year fixed mortgage rates as of August, a homebuyer c...

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