Aramco Report

The Blog
Luxury home sales see biggest spike on record

Nearly all sectors of the housing market saw a sharp rebound in 2020 but it was most pronounced in the volume of Americans purchasing high-end luxury homes this year. Affluent home buyers drove luxury home sales 60.7 percent higher this year compared to 2019, compared to a seven percent increase in...

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Mortgage payments taking a bigger bite out of incomes

With home prices continuing to rise at an unprecedented pace in the U.S. home buyers are finding that owning a property may eat up too much of their monthly income. Most financial experts suggest keeping housing expenses to less than 33 percent of one’s take-home pay. But as costs continue to soar,...

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More Americans buying multi-generational homes

More homebuyers in the U.S. are seeking homes that can accommodate extended family during the pandemic. You adults facing financial hardship are moving back home and older family members are quarantining long-term with their children as the coronavirus continues to take its toll. Approximately 16 p...

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Home sales at 14-year high

The sales volume of previously owned homes in the U.S. has risen to its highest level since 2006, according to a new report from the National Association of Realtors. The October data shows double-digit growth in several metropolitan areas. This coincides with a sharp climb in home prices across the...

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Mortgage applications ending the year on a high note

A surge of homeowners looking to refinance their existing mortgages led to another uptick in mortgage activity. Total mortgage applications for the week ending December 18 jumped 0.8 percent after rates for 30-year fixed mortgages fell to a new record low. Refinances, mostly from borrowers with VA...

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San Diego bidding wars get brutal

With record low mortgage rates coupled up with a severe shortage of available homes, 2020 has seen a surge in buyer competition like never before. According to a new report from Redfin, the number of housing markets that are seeing an increase in bidding wars is rising. The San Diego metropolitan m...

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Open concept floor plans may become a thing of the past

The coronavirus pandemic has transformed our homes in to far more than just where we live. It is also where many work, learn and play. As a result, some of the features that home buyers often listed as ‘deal-breakers’ have now become defunct. According to a new report from Apartment Therapy, the op...

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Existing home sales slip in November

The sales volume of previously owned homes declined last month as housing inventory remains chronically low. Existing home sales dropped by 2.5 percent in November on a month-over-month basis. While this is still 25.8 percent higher than last year’s volume, it is greater than the 2.2 percent decline...

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The cost of a Griswold Christmas

Of all the classic holiday movies, arguably the most iconic and memorable home and Christmas light display ever seen on the silver screen must have been that of Clark W. Griswold in the famed National Lampoon’s Christmas Vacation. The traditional Chicago suburb home covered from roof to lawn in thou...

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It’s beginning to look like a lot of home sales

It’s beginning to look like a lot of home sales Everywhere you go Take a look at the MLS Listings in excess With patios and recessed lights aglow It’s beginning to look like a lot of home sales For sale signs in every lawn But the prettiest sight to see Is the holly that will be When you’ve...

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