Aramco Report

The Blog
Real estate enters the metaverse

Imagine lying on the deck in your very own mansion in sun-soaked Miami. This could be your reality or rather your alternate reality, if you purchase the “MetaReal” mansion hitting the market later this year. Realtor Magazine reports that the property, currently under construction, will also have an...

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Home equity levels at record high

Homeowners in the U.S. are sitting on a record amount of equity in their homes, according to the latest data. Black Knight reports that borrowers have amassed a new high of $9.4 trillion in tappable home equity or an average of $178,000 per homeowner. Tappable equity is that amount of money a homeo...

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2022 homebuyers closely watching interest rate changes

With experts predicting a 60 percent chance of a Fed rate hike by March, housing industry leaders along with buyers and sellers are waiting with bated breath to see if that prediction comes true. This is causing a growing number of Americans who plan on buying or selling a home to rethink their plan...

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Lumber prices on the rise, again

After seeing a much-welcomed reprieve last summer from soaring prices, lumber costs appear to be on the rise once again. According to data from the National Association of Home Builders as reported by Realtor Magazine, lumber prices have nearly tripled over the past four months. The increased cost...

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Omicron making little impact on the housing market

Unlike the early days of coronavirus in the U.S. when the economy came to a virtual standstill and the housing market froze in its tracks, this latest variant appears to be having little impact on the number of buyers and sellers. According to a report from Realtor.com, housing analysts don’t believ...

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2021’s housing market broke many records

It was a banner year for the U.S. housing market in 2021 with record price increases, unprecedented buyer demand and sales levels never seen before. According to the National Association of Realtors, existing home sales are near their highest level in 15 years with an estimated six million homes sol...

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Moving companies backlogged with more Americans relocating

A new article from Realtor Magazine highlighted the challenges home buyers are likely to face when trying to book a moving company. Seventy-one percent of moving companies reported delays last year due to high demand and staffing shortages. This is according to a new survey from moveBuddha, a moving...

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Higher home limits approved for 2022

The Federal Housing Finance Agency announced that mortgage giants Fannie Mae and Freddie Mac will increase their lending limits for 2022 as a result of higher home prices nationwide. Currently, the maximum conforming loan limit for single-unit properties is $548,250. This will increase to $647,200 t...

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Report: Senior homeowners don’t want to move

A new report from AARP has found that homeowners over the age of 50 aren’t interested in selling their homes and maintain a strong desire to age in place. The survey found that more than three quarters of senior citizens want to remain in their homes for as long as possible. While aging in place he...

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Nearly half a million Americans call Main Street home

It’s associated with storybook tales, smalltown feels and Disneyland. But Main Street is actually where nearly half a million American residents call home. ATTOM Data Solutions released a report recently that studied the most common residential addresses in the U.S. and found that Main Street is the...

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