Aramco Report

The Blog
Home builder confidence remains near high mark

Despite a small dip in November’s reading, homebuilder confidence is currently at its second highest level of 2019 and 10 points higher than it was last year. The National Association of Home Builders and Wells Fargo’s Housing Market Index fell 1 point this month to a reading of 70. The nation’s low...

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Californians relocating to Nevada at record pace

There are currently more adults in Nevada that were born in California than were born in Nevada. That’s according to Robert Lang, executive director of Brookings Mountain West at the University of Las Vegas. Over 50,000 Californians relocated to Nevada between July 2017 and July 2018. This is the se...

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Mortgage debt mounting for U.S. homeowners

Americans are forced to fork over more money to buy homes, resulting in mortgage balances reaching a record high. Mortgage debt increased to $9.44 trillion during Q3 2019. The New York Federal Reserve reported in its Quarterly Report on Household Debt and Credit that mortgage balances rose by $31 bi...

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Report: 2020 new home sales expected to reach 13-year high

Purchases of new homes will rise to their highest level since 2007 according to a forecast made by the National Association of Realtors’ Chief Economist, Lawrence Yun. Specifically, he anticipates a 11 percent increase to 750,000 units. “Some loosening in inventory will happen in 2020, and so we exp...

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Home buyers feeling better but still uneasy about housing market

The share of potential home buyers who believe that finding the perfect home will get easier in the months ahead has increased from 19 percent to 21 percent, according to a new report. The National Association of Home Builder’s Housing Trends Report for the third quarter of 2019 shows that the numbe...

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FHA’s reverse mortgage portfolio shows improvement

The Federal Housing Administration’s Mutual Mortgage Insurance Fund, the portion of the FHA that handles reverse mortgages, saw a nine-digit increase in value over the past year. Although the capital ratio of the overall portfolio remains negative, the $7.7 billion increase since 2018 marks a 50 per...

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Homebuyers turning to relatives for down payment help

With rising home prices showing no signs of slowing down, more homebuyers are asking family members for help to come up with a down payment. According to the National Association of Realtors’ 2019 Profile of Home Buyers and Sellers, 30 percent of first-time buyers used down payment help from family...

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San Diego home sales fall as prices rise

Sales of previously owned single-family homes and attached properties in San Diego fell from September to October while prices increased, according to new information from the Greater San Diego Association of Realtors. Sales for single-family homes dropped by 4.9 percent to 1,862 units, down from 1,...

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Rise in natural disasters leading to increased insurance premiums

With natural disasters appearing to become more common in the last decade, insurance providers are raising rates. According to a new analysis by the Insurance Information Institute, there were 850 occurrences that were considered “natural catastrophes” worldwide – an increase from 740 in 2017 and up...

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Cost burden of mortgages getting lighter

Despite regular reports of rising home prices, new data released by the U.S. Census Bureau shows that the housing cost burden for many homeowners has been getting lighter of the last several years. The Bureau’s American Community Survey (ACS) found that the number of households with housing related...

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