Aramco Report

The Blog
With no place to go this summer, Americans take on home improvement projects

Stay-at-home orders have returned in many parts of the U.S. and many non-essential businesses are closed again. As a result, more homeowners are taking on home improvement projects. According to a new survey conducted by home remodeling website Porch.com, more than 75 percent of homeowners say they...

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Sales of newly built homes hit 13-year high

Even as the coronavirus pandemic wages on, Americans continue to snatch up newly constructed homes. According to new data from the U.S. Census Bureau and the Department of Housing and Urban Development, new home sales rose for the third consecutive month in June reaching a seasonally adjusted annual...

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Low mortgage rates driving more homeowners to refinance

The Mortgage Bankers Association reported this week that total mortgage loan application volume climbed 4.1 percent on a seasonally adjusted basis from the previous week, driven primarily by a major increase in refinance volume. This is the third consecutive week the MBA reported a week-over-week in...

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San Diego offering help to renters

The city of San Diego has announced that it has set aside $15.1 million to help renters who have been impacted by the coronavirus. Up to $4,000 per household is available to those who have experienced a health or economic impact due to the virus with priority given to families with young children or...

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San Diego home prices hit record high

Home price increases in San Diego County haven’t stopped during the pandemic. In fact, they just hit a new high. According to CoreLogic home prices in the County passed the $600,000 mark for the first time last month. A thin selection of homes for sale is causing buyers to compete against one anoth...

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Housing market leading U.S. economic recovery

The economic downturn caused by the coronavirus pandemic has touched nearly every sector and resulted in high unemployment. But the housing market appears to be the U.S.’s saving grace. Home sales appear unshaken by the pandemic and continue to see month-to-month increases. Sales of previously owne...

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U.S. home prices showing resiliency during pandemic

According to the latest Home Price Index from Radian, home prices across the U.S. climbed at an annualized rate of 6.3 percent during the first half of the year. Between July 2019 and June 2020, the index rose 8.1 percent with 20 major metropolitan markets recording price gains during Q2. “While th...

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California home sales see biggest increase in 40 years

After a pandemic-related decline that dragged California home sales to its lowest levels since the Great Recession, the housing market in the Golden State saw a major rebound in June. According to the California Association of Realtors, June sales experienced the largest month-to-month sales increas...

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‘Curb appeal’ makes way for ‘screen appeal’

According to one survey, 23 percent of home buyers who bought a home during the pandemic reported never entering the home in person, only viewing photos or doing a virtual tour. As a result, how a home photographs and appears in online listings has grown increasingly important. Real estate agents ar...

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Buyers more cautious during pandemic

Despite struggling against a large drop in new listings, home buying demand remains stronger than at any point in the last few years. According to the Mortgage Bankers Association, there have been several consecutive periods of week-over-week increases in home sales. While buyers continue to house h...

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