Aramco Report

The Blog
Report: SoCal home prices climbing $1 every 2 minutes

San Diego home prices have risen $60,000 over the past three months, according to the latest data. CoreLogic reports that the median sales price for the six counties in Southern California hit a record high of $655,000 in April. The increase seen over the last three months is equivalent to an apprec...

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Home construction experiences uptick, still falls short

Home builders are trying to up their game to keep up with the frenzied demand for new places to live but according to new data, this attempt to catch up is still woefully inadequate. A National Association of Home Builders analysis of Census Bureau data shows that total private residential construct...

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Home prices rising at fastest pace in 15 years

As the weather heats up the housing market is hitting a boiling point. According to new data from CoreLogic, April saw home prices rise at the highest rate of annual appreciation since February 2006. Home prices grew 13 percent on an annual basis – this is the third consecutive month of double-digit...

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California’s plan to tackle homelessness

Gov. Gavin Newsom announced plans last month to address the state’s ongoing homeless crisis, starting with a $12 billion investment. The plan includes relocating 65,000 homeless individuals to permanent housing and end family homelessness by 2026. Project Homekey, which has housing homeless people...

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Regulatory costs passed on to home buyers

While high demand and low inventory are the major contributing factors to the sharp rise in home prices this year, a new study shows that there are hidden costs being passed along to home buyers when purchasing a new home. According to a new NAHB study, government imposed regulations account for $9...

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Home sales seeing double digit growth in all regions

The California Association of Realtors reported last week that every region of the state saw a significant increase in sales in April. Southern California saw the biggest increase on a year-over-year basis with a 65.5 percent increase. This was topped by only two other regions: the San Francisco Bay...

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The timeline of the housing shortage

In the blink of an eye a home with a for-sale sign in the front yard goes from ‘hot new listing’ to ‘under contract’ these. Days. According to Freddie Mac, 83 percent of homes sold in March had been on the market for less than a month. The shortage of homes for sale driving these fast sells stems f...

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Pandemic driven migration appears to be slowing

The last year saw a growing trend of urbanites relocating to the suburbs as offices remained off limits due to COVID restrictions. A significant number of Americans reported a desire to relocate to suburban neighborhoods away from large cities due to the attractive real estate prices and the need to...

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Virtual home buying grows in popularity, out of necessity

The pandemic is changing the way people house hunt in a way that is likely to stick around given current market conditions. What started out as a mandate due to stay-at-home orders is now a competitive necessity for home buyers. In the early months of the pandemic, approximately a quarter of agents...

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Nearly half of homes selling above list price

If you are a home owner thinking about selling your property, a new report suggests that you can expect to receive on average, 5 offers and more money than you anticipated. The National Association of Realtors Confidence Index showed that during the four weeks ending May 16, nearly 50 percent of hom...

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