{"id":25183,"date":"2025-09-05T12:03:33","date_gmt":"2025-09-05T12:03:33","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=25183"},"modified":"2025-09-05T12:03:35","modified_gmt":"2025-09-05T12:03:35","slug":"the-housing-recession-is-over-but-were-not-fully-back-yet","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/the-housing-recession-is-over-but-were-not-fully-back-yet\/","title":{"rendered":"The Housing Recession Is Over\u2014But We\u2019re Not Fully Back Yet"},"content":{"rendered":"\n<p>According to NAR\u2019s Chief Economist Lawrence Yun, the good news is that the <strong>housing recession has officially ended<\/strong>\u2014even though the recovery is just getting started.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What\u2019s Changing?<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In June, <strong>pending home sales went up<\/strong> by 0.3%, marking the first gain after four months of decline <\/li>\n\n\n\n<li>Homes are flying off the market\u2014<strong>76% of existing homes sold in June were on the market for less than a month<\/strong> <\/li>\n\n\n\n<li>But supply is still tight: <strong>Housing inventory dropped 13.6% compared to last year<\/strong> <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Why It Matters<\/h3>\n\n\n\n<p>When homes sell quickly and bids are competitive, it means <strong>demand is high while supply is low<\/strong>. Homebuilders are responding by ramping up construction and hiring more workers <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">What Buyers Need to Know<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Higher prices and mortgage rates<\/strong> continue to be barriers\u2014but things may improve soon <\/li>\n\n\n\n<li>Inflation is cooling and getting closer to the Fed\u2019s target, which suggests that <strong>mortgage rates may have peaked<\/strong> <\/li>\n\n\n\n<li>If rates dip, we could see a surge of new buyers entering the market soon <\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">NAR\u2019s Forecast: What\u2019s Ahead<\/h2>\n\n\n\n<p>NAR\u2019s outlook through 2023 and into 2024 includes:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Market Segment<\/th><th>2023 Outlook<\/th><th>2024 Outlook<\/th><\/tr><\/thead><tbody><tr><td><strong>Existing\u2011home sales<\/strong><\/td><td>Expected to decline 12.9% versus 2022<\/td><td>Projected to rebound 15.5%<\/td><\/tr><tr><td><strong>Median home prices<\/strong><\/td><td>Slight decline (~0.4%) to ~$384,900<\/td><td>Expected to rise ~2.6% to ~$395,000<\/td><\/tr><tr><td><strong>New\u2011home sales<\/strong><\/td><td>Forecast to climb 12.3%<\/td><td>Anticipated to grow another 13.9%<\/td><\/tr><tr><td><strong>New\u2011home prices<\/strong><\/td><td>May drop ~1.9% to ~$449,100<\/td><td>Expected to increase 4.2% to ~$468,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">TL;DR (In Plain Language)<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The housing slump is behind us\u2014but it&#8217;s not a full boom yet.<\/li>\n\n\n\n<li>Demand is strong, inventory is low, and homes are selling fast.<\/li>\n\n\n\n<li>Rates might be at their peak, which could boost buyer activity.<\/li>\n\n\n\n<li>NAR predicts a decline in existing-home sales this year with a strong rebound next year.<\/li>\n\n\n\n<li>New construction looks promising too, with prices stabilizing before climbing again.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Source:<\/strong> REALTOR\u00ae Magazine<br \/><strong>\u201cNAR Economist: \u2018Housing Recession Is Over\u2019\u201d<\/strong><br \/>National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to NAR\u2019s Chief Economist Lawrence Yun, the good news is that the housing recession has officially ended\u2014even though the recovery is just getting started. What\u2019s Changing? Why It Matters When homes sell quickly and bids are competitive, it means demand is high while supply is low. Homebuilders are responding by ramping up construction and &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/the-housing-recession-is-over-but-were-not-fully-back-yet\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-25183","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Housing Recession Is Over\u2014But We\u2019re Not Fully Back Yet - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/the-housing-recession-is-over-but-were-not-fully-back-yet\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/the-housing-recession-is-over-but-were-not-fully-back-yet\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/the-housing-recession-is-over-but-were-not-fully-back-yet\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"The Housing Recession Is Over\u2014But We\u2019re Not Fully Back Yet\",\"datePublished\":\"2025-09-05T12:03:33+00:00\",\"dateModified\":\"2025-09-05T12:03:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/the-housing-recession-is-over-but-were-not-fully-back-yet\\\/\"},\"wordCount\":316,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/the-housing-recession-is-over-but-were-not-fully-back-yet\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/the-housing-recession-is-over-but-were-not-fully-back-yet\\\/\",\"name\":\"The Housing Recession Is Over\u2014But We\u2019re Not Fully Back Yet - 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. 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