Aramco Report

The Blog
Home sales decline more than expected in November

Sales of existing homes in the U.S. fell for the second time in three months according to a new report. The 1.7 percent drop in previously owned homes during the month of November was higher than the 0.4 percent decrease economists surveyed by The Wall Street Journal had anticipated. Sales were sti...

Read More
California ranked toughest market for first-time buyers

For younger home buyers looking to snag a property in California, the odds are stacked against you. According to a new Bankrate, the state ranks as the toughest housing market for first time home buyers to break in to. Based on five criteria including housing inventory, credit availability and the j...

Read More
Home builder's confidence rises to 20-year high

Seasonally high home sales and favorable mortgage rates have led to a spike in home builder confidence, according to a new report. The National Association of Home Builders/Wells Fargo Housing Market Index jumped 5 points in December to a reading of 76. This is the highest reading for the index sinc...

Read More
Foreclosures in U.S. down from last year

The volume of properties in the U.S. with foreclosure filings fell on both a monthly and yearly basis in November, continuing a steady streak of recovery since the record shattering volume seen during the Great Recession. There were 49,898 properties with foreclosure filings nationwide as of last mo...

Read More
Reverse mortgages helping seniors bolster retirement income

House-rich and cash-poor is a description that can be used to describe many of California’s senior citizens. With rising home values but little in retirement savings, the market for reverse mortgages continues to thrive. Reverse mortgages allow those 62 or older to tap their home’s equity through a...

Read More
‘Beverly Hillbillies’ estate sells for record-breaking price

The sprawling Bel-Air estate featured in the opening credits of the television series The Beverly Hillbillies sold last week for a reported $150 million. The mansion, known as the Chartwell, hit the market in 2017 and had gone through several price cuts since. The latest public asking price was $195...

Read More
Coastal cities cede top housing markets to inland states

It used to be San Diego, San Francisco and Seattle that dominated lists of the hottest housing markets in the country. But new data for 2019 shows that landlocked states are turning the tables on those coastal towns. Realtor.com reports that Boise, Idaho is expected to be the hottest housing market...

Read More
Experts: 1 in 3 chance of 2020 recession

A summit of top economists and real estate experts attended a summit headed by Secretary of Housing and Urban Development Ben Carson and shared their predictions for the 2020 housing market. A consensus of the leading experts in attendance put the likelihood of a recession next year at 29 percent....

Read More
Mortgage applications look to end year on high note

After the typical lull that accompanies the Thanksgiving holiday, mortgage application activity saw a strong comeback last week, rising 3.8 percent on a seasonally adjusted basis. Applications increased for refinances, up 146 percent over the same week last year when rates were nearly a full percent...

Read More
First-time homebuyers making a comeback

Those entering the realm of homeownership for the first time dominated the housing market in 2019. According to a report from Genworth Financial, first-time homebuyers accounted for 39 percent of all buyers during the third quarter and made up 55 percent all purchase mortgages. This latest data sh...

Read More