Aramco Report

The Blog
San Diego home prices climb 25 percent in a year

The San Diego is on its way to becoming the hottest housing market in the U.S. According to a recently released report from S&P CoreLogic, the Case-Shiller Index shows that home prices in America’s Finest City surged 24.7 percent from May 2020 to May 2021. This falls just behind Phoenix which saw a...

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Federal homeowners assistance off to slow start but could soon provide relief

The federally funded Homeowners Assistance Fund (HAF) has been struggling to gain momentum but that may soon change. The $10 billion fund to help homeowners struggling to make mortgage payments during the pandemic was launched earlier in the year without much guidance on how the money will make it’s...

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Fewer homeowners have upside-down mortgage

Rising home values across the U.S. proved to be curative for homeowners who were previously underwater. According to a new report from ATTOM, just four percent of mortgaged homes in the U.S. were considered seriously underwater, meaning the homeowner owes at least 25 percent more than the home’s val...

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California renters have protections beyond CDC

While there appears to be a legal battle brewing over the Centers for Disease Control’s eviction ban announced last week, the outcome may not impact renters in California. California tenants who are struggling to make the rent are protected under a statewide eviction moratorium until September 30....

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Real estate groups push back on eviction ban extension

After the Biden administration announced that the Centers for Disease Control was extending the moratorium on evictions this week, a group of real estate entities have petitioned a federal court to block it. The legal challenge centers around a 60-day freeze on evictions in parts of the country expe...

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CoreLogic forecast predicts relief for home buyers soon

Although home prices are still climbing across the nation, a new forecast from CoreLogic on home prices says that some relief for buyers may be coming soon. Home prices climbed 2.3 percent from May to June and are a staggering 17.2 percent higher than they were a year ago. In San Diego, the year-ove...

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CDC issues extension on eviction moratorium

In a last-minute move, the U.S. Centers for Disease Control and Prevention issued a new extension of an eviction moratorium that had recently expired. The new extension will last until October 3. Announced on Tuesday, the extension will temporarily halt evictions in counties with “substantial and hi...

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Home construction well below historical norms

The number of home permits being pulled in 2021 is certainly higher than it was a year ago when the construction industry seemingly halted amid the coronavirus outbreak. As of Q2 2021, permits to construct new homes were 48 percent above where they were during the Spring of 2020. Still, even with th...

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Most Americans believe now is a good time to sell a home

Ordinarily, record low mortgage rates indicate that home buyers are at an advantage when house-hunting. But as the scarcity of homes for sale remains acute, the general consensus among the American population is that it’s not a good time to buy. The latest Fannie Mae Home Purchase Sentiment Index s...

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Biden Administration pushes for extending eviction ban

At the urging of President Biden, the Federal Housing Finance Agency and the Federal Housing Administration both announced last week that they would be extending bans on evictions for borrowers with foreclosed homes. “The pandemic continues to have an outsized impact on the ability of Americans to...

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