Aramco Report

The Blog
Newly constructed homes getting pricier

An increased cost to construct is causing the price of a new home to soar. Rising lumber costs in particular have added more than $16,000 to the typical cost of a new single-family home according to a new report. The National Association of Home Builders is reporting that more than 2.1 million U.S....

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Mortgage rates hit another record low

For the tenth time this year mortgage rates have fallen to a new record low. According to Freddie Mac’s weekly Primary Mortgage Market Survey, the average rate for a 30-year fixed rate mortgage dropped during the week ending October 15. This is another new low following the previous record hit last...

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Calif.’s 2021 housing forecast looks positive

A continuation of low mortage rates and high demand from Millennials for new homes should create a booming real estate market in California next year. This prediction comes from the California Association of Realtor’s “2021 California Housing Market Forecast” report. Economist uncertainty due to the...

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Boom in luxury home market

While millions of Americans are still out of work and the rollercoaster ride the stock market is putting middle-America through has made 2020 all the more challenging, the rich appear to be getting richer. According to a new report from research firm Wealth-X, the net worth of the wealthiest America...

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Rising home prices not deterring buyers

Even as home prices experienced a record-high growth of 12.9 percent over the last year, home buyers haven’t lessoned their demand. In fact, homes are selling almost as quickly as ever with no signs of slowing down any time soon “While buyers would normally begin to hunker down this time of year, w...

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Low mortgage rates helping Millennials become homeowners

As more Millennials come of age, the demand from that generation for new homes is rising rapidly. The combination of the pandemic and the current favorability of mortgage rates is driving this demand even higher. According to a new survey conducted by Realtor.com and HarrisX, 68 percent of home buye...

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Home prices climbing at record pace in U.S.

The median sale price a home in the U.S. saw its largest increase ever in last week according to new data. A report from Redfin analyzing information from the Case-Shiller national home price index showed that prices jumped 15 percent year-over-year during the week ending October 4. This beats the p...

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Real estate professionals who work the frontlines

In the early days of the coronavirus pandemic when nearly 1 in 5 businesses was closed per government order, real estate professionals continued to work as an essential business. Now, a new survey conducted in mid-August by States Title, shows that industry employees say they have had to compromise...

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Home sales expected to end year on high note

In one of the most erratic and tumultuous economic years ever, the housing market has remained a bright spot. According to a forecast model, Redfin says it expects home sales to end 2020 on higher than the previous year. The model predicts a total of 6.2 million home sales before the end of the year...

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Report: Presidential election impacting real estate decisions

Americans are factoring in the upcoming presidential election in their decision to buy or sell a home, according to a new report. A survey conducted by Redfin of more than 1,400 U.S. residents shows that 22 percent of homebuyers and sellers are considering the outcome of the election in their decisi...

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