{"id":20747,"date":"2022-06-23T12:11:44","date_gmt":"2022-06-23T12:11:44","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20747"},"modified":"2022-06-23T12:11:46","modified_gmt":"2022-06-23T12:11:46","slug":"home-sales-retreat-to-pre-pandemic-levels","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/","title":{"rendered":"Home Sales Retreat to Pre-Pandemic Levels"},"content":{"rendered":"\n<p>Home Sales Retreat to Pre-Pandemic Levels<\/p>\n\n\n\n<p>Home sales are falling from their pandemic-fueled highs as home buyers tighten up their budgets. \u201cHome sales have essentially returned to the levels seen in 2019\u2014prior to the pandemic\u2014after two years of gangbuster performance,\u201d says Lawrence Yun, chief economist for the National Association of REALTORS\u00ae. Movement in both single-family and condo sales are nearly equal, Yun adds, \u201cpossibly implying that the preference toward suburban living over city life that had been present over the past two years is fading, with a return to pre-pandemic conditions.\u201d<\/p>\n\n\n\n<p>Total existing-home sales\u2014completed transactions for single-family homes, townhomes, condos, and co-ops\u2014dropped 3.4% month over month in May, reaching a seasonally adjusted annual rate of 5.41 million, according to NAR\u2019s latest home sales report. Existing-home sales are down 8.6% compared to a year ago.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><a href=\"https:\/\/magazine.realtor\/daily-news\/2022\/06\/15\/fed-s-aggressive-rate-hike-may-influence-shrinking-buyer-pool\" target=\"_blank\" rel=\"noreferrer noopener\">Fed\u2019s Aggressive Rate Hike May Influence \u2018Shrinking Buyer Pool\u2019<\/a><\/p><\/blockquote>\n\n\n\n<p>\u201cFurther sales declines should be expected in the upcoming months given housing affordability challenges from the <a href=\"https:\/\/magazine.realtor\/daily-news\/2022\/06\/17\/surging-mortgage-rates-spook-house-hunters\">sharp rise in mortgage rates<\/a> this year,\u201d Yun says. \u201cNonetheless, homes priced appropriately are selling quickly, and inventory levels still need to rise substantially\u2014almost double\u2014to cool home price appreciation and provide more options for home buyers.\u201d<\/p>\n\n\n\n<p>Indeed, despite the decreases last month in home sales, prices remain strong. The median existing-home price exceeded $400,000 for the first time on record, reaching $407,600\u2014up 14.8% from a median of $355,000 a year ago, NAR reports. Here are some additional key housing indicators from NAR\u2019s May existing-home sales report.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Days on the market:<\/strong> Eighty-eight percent of homes sold were on the market for less than a month. Properties typically remained on the market for 16 days, down from 17 days in April.<\/li><li><strong>Housing inventories: <\/strong>Total housing inventory at the end of May was 1.16 million units, up 12.6% from April but down 4.1% from a year ago. Unsold inventory nationally sits at a 2.6-month supply at the current sales pace.<\/li><li><strong>First-time buyers:<\/strong> First-time buyers accounted for more than a quarter\u201427%\u2014of sales, down from 31% a year ago. Higher mortgage rates and home prices continue to press on first-time buyers\u2019 budgets.<\/li><li><strong>All-cash sales:<\/strong> All-cash transactions accounted for a quarter of sales, up from 23% a year ago. Individual investors and second-home buyers, who tend to make up the bulk of cash sales, comprised 16% of transactions, down slightly from 17% a year earlier.<\/li><li><strong>Distressed sales: <\/strong>Foreclosures and short sales accounted for less than 1% of sales.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Regional Snapshot<\/h4>\n\n\n\n<p>Here\u2019s a closer look at how existing-home sales fared across the country in May:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Northeast: <\/strong>Rose 1.5%, reaching an annual rate of 680,000. However, sales were down 9.2% from a year ago. Median price: $409,700, a 6.7% uptick from one year ago.<\/li><li><strong>Midwest: <\/strong>Fell 5.3% and reached an annual rate of 1.24 million. Sales were down 7.5% compared to a year earlier. Median price: $294,500, up 9.5% from a year ago.<\/li><li><strong>South: <\/strong>Dropped 2.8% in May and reached an annual rate of 2.41 million\u2014down 8.4% from a year ago. Median price: $375,000, a 20.6% increase compared to a year ago.<\/li><li><strong>West:<\/strong> Fell 5.3% and reached an annual rate of 1.08 million, marking a 10% decline from a year earlier. Median price: $633,800, an increase of 13.3% from a year ago.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/magazine.realtor\/sites\/default\/files\/styles\/asset_image_full_content\/public\/assets\/images\/NAR-MAY%202022-EHS.png?itok=e0wzBV3b\" alt=\"NAR May 2022 existing-home sales\"\/><\/figure>\n\n\n\n<p>\u00a9National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home Sales Retreat to Pre-Pandemic Levels Home sales are falling from their pandemic-fueled highs as home buyers tighten up their budgets. \u201cHome sales have essentially returned to the levels seen in 2019\u2014prior to the pandemic\u2014after two years of gangbuster performance,\u201d says Lawrence Yun, chief economist for the National Association of REALTORS\u00ae. Movement in both single-family &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/\">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-20747","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>Home Sales Retreat to Pre-Pandemic Levels - 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=\"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-retreat-to-pre-pandemic-levels\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-retreat-to-pre-pandemic-levels\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Home Sales Retreat to Pre-Pandemic Levels\",\"datePublished\":\"2022-06-23T12:11:44+00:00\",\"dateModified\":\"2022-06-23T12:11:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-retreat-to-pre-pandemic-levels\\\/\"},\"wordCount\":521,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-retreat-to-pre-pandemic-levels\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/NAR-MAY%202022-EHS.png?itok=e0wzBV3b\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-retreat-to-pre-pandemic-levels\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-retreat-to-pre-pandemic-levels\\\/\",\"name\":\"Home Sales Retreat to Pre-Pandemic Levels - 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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. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.\",\"sameAs\":[\"http:\\\/\\\/www.anthonydidonato.net\"],\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Home Sales Retreat to Pre-Pandemic Levels - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/#article","isPartOf":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/"},"author":{"name":"admin","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"headline":"Home Sales Retreat to Pre-Pandemic Levels","datePublished":"2022-06-23T12:11:44+00:00","dateModified":"2022-06-23T12:11:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/"},"wordCount":521,"publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"image":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/#primaryimage"},"thumbnailUrl":"https:\/\/magazine.realtor\/sites\/default\/files\/styles\/asset_image_full_content\/public\/assets\/images\/NAR-MAY%202022-EHS.png?itok=e0wzBV3b","keywords":["Anthony DiDonato","News","Real Estate","tips"],"articleSection":["News","Real Estate Tips"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/","url":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-retreat-to-pre-pandemic-levels\/","name":"Home Sales Retreat to Pre-Pandemic Levels - 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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. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.","sameAs":["http:\/\/www.anthonydidonato.net"],"url":"https:\/\/www.anthonydidonato.net\/wordpress\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/20747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/comments?post=20747"}],"version-history":[{"count":0,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/20747\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/media?parent=20747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/categories?post=20747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/tags?post=20747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}