Aramco Report

The Blog
Virtual homebuying stays at the forefront of buyer trends

It started with the COVID-19 pandemic shutting down open houses and regular visits with an agent to tour homes but now virtual home buying is a growing way that house hunters are looking to get ahead of the competition. According to a report from Redfin, 45 percent of consumers who purchased a home...

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Renting costs more than homeownership in many regions

Home prices are rising at a rate unseen in years and mortgage rates have ticked up in recent weeks. One might think that the combination of these things is likely to make homeownership a bad deal when compared to a simply monthly rent payment. However, according to data from Realtor.com, buying a ho...

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SoCal couple buy dream home but former owner won't vacate

A Riverside, Calif. couple thought they bought their dream home. And they did. But their dream quickly turned in to a nightmare as the previous owner refuses to leave. They closed escrow over a year ago and have been paying their mortgage but the family that was supposed to pack up and move out are...

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More Americans looking to relocate to a new town

According to a new report from Redfin.com, more users of the online real estate site are searching for homes outside of their current city. Migration to smaller cities has increased during the coronavirus pandemic as American workers are no longer tethered to offices in major metropolises. Nationw...

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Renters have more homebuying power as rates remain near all-time lows

Demand for homes is off the charts. Record low mortgage rates throughout much of 2020 coupled with millennials reaching prime home buying age has created an influx of renters looking to transition to homeownership. According to a report from First American, this demand has made it more difficult for...

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Americans are saving more but it’s still not enough

In the spring of 2020, the national average savings rate was near eight percent. But as the pandemic took hold in the U.S., people began stashing more away. By the end of last year, the national average savings rate rose to 17 percent. Still, the increased savings rate isn’t enough to catch up with...

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Fierce competition for housing has buyers turning to unconventional tactics

The severe housing shortage in the U.S. is fueling cutthroat competition among buyers, prompting many to take unorthodox routes to get their offer accepted. This includes things like placing multiple offers on different properties simultaneously, removing appraisal contingencies and forking over mor...

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Mortgage delinquencies on the rise for the first time in nearly a year

The mortgage delinquency rate in the U.S. ended an eight-month long streak of declines in February, according to new data. Black Night reports that the national mortgage delinquency rate, the percentage of all mortgages that were 30 days or more past due, climbed to six percent last month. This is u...

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Survey: pandemic concerns still linger for homeowners

There is light at the end of the tunnel as vaccines become more widely available in the U.S. But that has not done much to alleviate the concerns of Americans who remain wary of their ability to repay their mortgage and make rent payments. According to a poll from Freddie Mac, 41 percent of homeowne...

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Baby boomers seeing six-figure profits on home sales

Sellers across all age groups are seeing record profits when they sell their homes, thanks to rising values and strong demand from buyers. But no group is seeing the kind of gains that the Baby boomer generation is. According to the National Association of Realtors’ “2021 Home Buyer and Seller Gener...

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