Aramco Report

The Blog
Report: Slowdown in housing starts may be short-lived

Construction of new homes in the U.S. fell more than 9 percent in September to an annual rate of 1.26 million units, down from 1.39 million in August, which was a 12-year high. However, experts anticipate the September drop to be only temporary as the number of permits filed to build new homes, an i...

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Calif. wildfires put housing market at risk

In addition to the destruction and potential life-threatening dangers of wildfires that are becoming more common in California, a new analysis shows that these types of natural disasters could have a lasting effect on the housing market in the state. Four counties in California top the list of regi...

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In advance of rent cap, tenants receiving move-out notices

AB 1482, a law capping rent increases at 5 percent plus inflation, goes into effect on January 1, 2020. Anticipating this, the opportunity to issue 60-day “notices to vacate” began going out to many California renters on October 31. That day was the last day landlords could issue such notice and tak...

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Lower mortgage rates prompt spike in San Diego home sales

A steady decline in mortgage rates over the past year has led to a significant increase in home sales in San Diego County. According to new data from CoreLogic, sales shot up 14.7 percent in September compared to a year ago. The 3,393 home sales in the region during the month is up from 2,959 in Sep...

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Federal reserve cuts rates for third time this year

The Federal Reserve announced this week that it was lowering its benchmark federal funds rate for the third time this year but hinted at a pause in further rate cuts for the time being. The policy statement released on Wednesday downplayed the need for further rate cuts in the coming months despite...

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Deal closes on most expensive property purchase in San Diego

San Diego’s most expensive land sale of the year so far just closed for a whopping $48,638,200. According to information from the San Diego County MLS and Pacific Sotheby’s International Realty, the 22-acre site in Mission Valley is slated for construction in 2020. The four-parcel property, located...

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Is your home trick-or-treater friendly?

Be prepared. Tonight, goblins and witches will roam the streets. As trick-or-treaters canvass neighborhoods in search of sweets, ensuring you have a safe path to your front door is as essential as having a plenty of candy on-hand. Before the sun sets tonight, it is recommended you inspect your walk...

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San Diego home buyers stretching budgets

Buyers in San Diego need to take out a mortgage nearly four times their annual income in order to afford a home in the region according to a new report from Realtor.com. The conventional wisdom is that home buyers shouldn’t spend more than three times their annual salary on the price of a property b...

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Home construction rates show no sign of improvement

The national home ownership rate, property values and sales are all elements of the housing market that have either returned to pre-recession levels or are making strides in that direction. Despite this, the rate at which new homes are being built in the U.S. are far from a full recovery. In fact, a...

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Bold, new rent control law passes in Calif.

Lawmakers in California last week approved a statewide limit on annual rent increases for most tenants. This sweeping mandate is the latest step to curb rapidly rising rent prices in the State. Specifically, the new law, which would become retroactively effective as of March this year, caps annual r...

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