Aramco Report

The Blog
Home sales climb in June

In the latest round of data to support the statement that the housing market has been immune to the coronavirus pandemic, the number of Americans purchasing new homes in June climbed again. Home sales, according to the Mortgage Bankers Association, rose an impressive 20 percent from May and 54.1 per...

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Workspace becomes new home ‘must-have’

With approximately one in five Americans working remotely at least some of the time during the coronavirus pandemic, it is no surprise that new trends in home buying reflect a need for a workspace. According to a survey from HomeLight, the top reason households in the U.S. began searching for a new...

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Homeownership rate held back by shortage of homes

With record low mortgage rates and high demand from people wanting to break in to the housing market, the potential for the national homeownership rate to reach new heights is bubbling under the surface. But keeping this from happening is a chronic shortage of homes available for purchase. Followin...

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Homeowners slowly coming out of COVID forbearance programs

According to a new report, the number of Americans financially impacted by the coronavirus pandemic may be shrinking as nearly half a million borrowers resumed paying their mortgage as of last week. According to Black Knight’s weekly report on mortgage loans in COVID-19 forbearance plans, more than...

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High-income households moving to middle-class neighborhoods

The creation of gentrified neighborhoods is happening in communities across the U.S. as affluent home buyers turn to low-to-moderate income neighborhoods. A study from the Urban Institute has found that rising home prices and a limited selection of homes for sale is behind this change. This creates...

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Pending home sales pull back at end of June

According to new data from online real estate site Redfin, the month of June ended with pending home sales on the slide. Compared to the same week of June 2019, pending home sales were down 8.2 percent. New listings were also down during the week on an annual basis by eight percent. Sellers who had...

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Realtors feel confident about housing future

After a rocky start to the year, Realtors in the U.S. feel that their business is now back on track. According to a new survey by the National Association of Realtors, 92 percent of residential and commercial realtors said that at least a portion of their buyers are back and of those, 18 percent nev...

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Pending home sales climb in San Diego

As the weather heats up and much of the nation inches along in phased reopening plans, San Diegans returned to the housing market. Overall, real estate activity was up nationwide with San Diego seeing a sharp increase in pending home sales during the month of June. The Greater San Diego Association...

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Nearly 1 in 5 Americans have moved due to pandemic

The coronavirus pandemic has upended nearly every aspect of daily life, so much so that it has caused a major shift in where people are choosing to live. According to a new study published by the Pew Research Center this week, approximately one-in-five adults in the U.S. have either moved or know so...

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Housing market rebounding from pandemic downturn

In yet another positive report concerning the housing market's recovery from the coronavirus pandemic, new data shows more positive movement. Realtor.com’s Housing Market Recovery Index reached 95.8 during the week ended June 27. A reading of 100 would indicate a full return to pre-pandemic conditio...

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