Aramco Report

The Blog
Newly built home sales tumble in September

For the first time in nearly five months, the sales rate of newly constructed homes has declined. September saw a 3.4 percent decline from the prior month to a seasonally adjusted annual rate of 959,000 units. This latest data comes from the U.S. Census Bureau and the Department of Housing and Urban...

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San Diego named one of Americans ‘rattiest’ cities

It seems oxymoronic that America’s Finest City’ is also one of America’s rattiest. According to a new report from Orkin, an Atlanta-based pest control company, the San Diego metropolitan area has been ranked among the 50 ‘rattiest’ cities. San Diego’s inclusion in the rat-pack is based on new rodent...

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Desire for homeownership growing among Americans

The COVID-19 pandemic has driven Americans’ desire to transition from renter to homeowner. According to a new report from the National Association of Home Builders, the share of Americans who are considering purchasing a new home in the next 12 months was 13 percent as of Q3 2020. This is an increas...

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FHA announces extension to COVID homeowner protections

Homeowners with FHA-insured mortgage previously had until October 30 to request a forbearance on their loan from their lender. Now, they have until December 31. In an announcement from The Federal Housing Administration and the U.S. Department of Housing and Urban Development, the date extension is...

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Home prices in Calif. Hit new milestone

The median price of a home in California is now more than $700,000 according to a new report. This is the second consecutive month prices have surpassed that amount, reaching $712,430 as of September. This is a 0.8 percent increase from August’s $706,900 and up a whopping 17.6 percent from last year...

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Calif.’s home buying season stretches in to fall

In a typical year, the traditional home buying season is spring through summer but 2020 has been anything but typical. According to the California Association of Realtors, September home sales climbed to their highest level in more than a decade. Closed escrow sales of existing, single-family homes...

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Builder confidence near record high

Only once before has an index measuring home builder confidence in the future of the housing market topped a reading of 80 – that was September’s reading of 83. October seems to have raised the bar once again with a reading of 85. This is according to the National Association of Home Builders/Wells...

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Housing inventory on the rise in some areas

As more sellers come back to the market after a month's long retreat due to the pandemic, the volume of homes for sale is climbing in some regions. According to data from Realtor.com’s Weekly Housing Report, more homeowners listed their properties for sale last week than the week prior. Nonetheless,...

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Homes in wildfire risk zones are more affordable

Wildfires along the west coast of the U.S. continue to wreak havoc on communities from Washington to Southern California. With more than 4.5 million residential properties considered to be in high risk wildfire zones, an estimated $3.3 trillion in home values could be in jeopardy. Still, that hasn’t...

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Foreclosures down 81 percent from last year

Foreclosures in the U.S. ground to a halt as the nation grappled with the sudden onset of the coronavirus pandemic. And while many lenders have resumed repossessions, foreclosure filings remain 81 percent lower than they were a year ago. According to ATTOM Data Solutions Q3 2020 U.S. Foreclosure Ma...

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