Aramco Report

The Blog
Home prices rise during pandemic

Record joblessness, shuttered businesses and a volatile stock market are all part of an economy on uneasy ground. But in the midst of all this turmoil, home prices keep pushing higher. While some economists warn that an impact on the housing market may be on the horizon, for now it appears to be the...

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Pandemic taking its toll on demand for housing

An upward trend in housing demand and consumer sentiment were stopped cold in March and April as the novel coronavirus altered the American way of life. After falling significantly in March, consumer sentiment regarding the housing market fell even more in April. The Fannie Mae Home Purchase Sentime...

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Number of equity rich homeowners growing

The wealth being realized from owning a home in the U.S. is growing. Nearly one out of every four mortgaged homes have a loan value that is 50 percent or lower than the estimated market value. This latest information comes from ATTOM Data Solutions’ first-quarter 2020 U.S. Home Equity & Underwater R...

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Millennials drive increase in new-home transactions

Being cooped up at home has many Americans considering a move. John Burns Real Estate Consulting, as reported by Realtor Magazine, showed that new-home transactions have doubled in the last two weeks alone. Those 31 to 40 years old are displaying an increasing interest in moving and buying a home. T...

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Look-outs before deferring your mortgage

In order to pull the U.S. economy and its citizens away from a financial cliff, the federal government passed the CARES Act, which among other things, allows homeowners to defer their mortgage payments for months. However, there are several items to consider before doing this. The CARES Act prevent...

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New home listings plummet

If home inventory levels weren’t tight enough before, they certainly are now. As the nation continues to grapple with the national emergency caused by the coronavirus pandemic, a new report shows an unprecedented decline in new home listings. Data from Realtor.com shows a 44.1 percent decline in ne...

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Coronavirus causing Americans to rethink city life

With the pandemic hitting densely populated urban dwellers the hardest in places like New York, Philadelphia and Los Angeles, many Americans are considering relocating to the suburbs. According to a Harris Poll conducted last week, urbanites are twice as likely as those living in the suburbs to sear...

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Trouble may be brewing for homeowners who defer mortgage payments

Government intervention to prevent renters from being evicted and homeowners from being foreclosed upon has provided some measure of relief to Americans during the pandemic but questions are arising about whether more should be done. While many banks are offering mortgage relief to borrowers, payme...

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Consumer confidence crumbles in April

The coronavirus is wreaking havoc on the American way of life and as a result consumers are growing weary of the future. The Consumer Confidence Board Index reported last week that American’s impressions of the economy and its direction fell from a March reading of 107.5 to 75.2 in April. This repre...

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San Diego home prices climb in February

Home prices in San Diego grew at a faster pace than any other major metropolitan area in California according to new data. The S&P CoreLogic Case-Shiller Index for February showed that prices for San Diego homes climbed 4.6 percent during the month. While this latest available data reflects a perio...

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