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The ARAMCO Report
By Mehran AramBusiness
The ARAMCO Report episodes
- Existing Home Sales Plummet to Lowest Level Since 2015March's home sales report for previously owned homes from the National Association of Realtors showed that home sales saw the largest monthly drop since November 2015.2 min
- Extreme Volatility Continues in Both the Stock and Bond MarketsFinancial markets in the U.S. are struggling to find solid footing amid the global pandemic. Tuesday's big sell-off in the stock market lead to a rally on the 10-year Treasury on Wednesday as the roller coaster pattern continues.2 min
- A Quarter of Consumer Would Purchase a Home VirtuallyA survey by Realtor.com found that a quarter of consumers would purchase a home without seeing it in person. In today's housing market with mortgage rates still at near all-time lows and self-isolation measures in place, virtual touring a property has become more popular than ever.2 min
- California Existing Home Sales Down Double DigitsPreviously owned single-family homes in California saw a significant drop month over month in March signifying the affects of Covid-19. Sales were also down on a year-over-year basis as well.2 min
- Home Builder Confidence and Retail Sales Hit Record LowsHome Builders expectations of current single-family home sales and their expectations for those sales over the next six months reached a record low not seen in over 30 years. Meanwhile Retail sales saw the biggest decline since the government started tracking the series in 1992.2 min
- Stocks Rally As Talks About Re-Opening the Economy BeginThe stick market bit on the news that the federal government would begin talks about how to get the U.S. economy back up and running.2 min
- Analysts Split on Housing Market Post PandemicMany housing analysts are not in agreement on how home prices will react as we come out of the pandemic.2 min
- Jobless Claims Reach Nearly 20 Million Since Onset of PandemicWorkers seeking unemployment benefits hit 6.6 million last week bringing the total number to 17 million since news of the covid 19 pandemic broke. Meanwhile consumer sentiment reached a record low.2 min
- Online Real Estate Brokerage Furloughs Nearly Half of its AgentsAs the Covid 19 pandemic continues to hinder the real estate market, online real estate brokerage Redfin announced it would furlough 41% of its agents and reduce its staff by 7%.2 min
- Real Estate Traffic Slows Drastically.The Covid-19 and "Stay at Home" measures implemented have caused a significant pull-back in real estate market as listings, showings and sales have all seen traffic decrease substantially.2 min
About The ARAMCO Report
From the publisher's feed
The Aramco Group specializes in an array of mortgage and real estate products for San Diego homeowners. The Aramco Team is committed to providing our clients with the highest quality financial services and advice, and is motivated more than anything by complete customer satisfaction as evidenced by our A+ rating with the BBB.
Whether you are purchasing your dream home, refinancing your current loan, benefitting from a reverse mortgage, or consolidating debt, our professional staff will help you find a financial solution that is tailored specifically to meet your needs. Being a family owned and operated firm since Aramco’s establishment in the 90’s we ask you to trust your family’s finances to our family, at The Aramco Group.