{"id":23279,"date":"2024-02-19T15:43:33","date_gmt":"2024-02-19T15:43:33","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=23279"},"modified":"2024-02-19T15:43:34","modified_gmt":"2024-02-19T15:43:34","slug":"contract-signings-down-again-may-have-hit-bottom","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/contract-signings-down-again-may-have-hit-bottom\/","title":{"rendered":"Contract Signings, Down Again, May Have Hit Bottom"},"content":{"rendered":"\n<p>Pending home sales in July dropped nearly 20% year over year as the housing market continues to slow. But a turnaround is in sight, says Lawrence Yun.<\/p>\n\n\n\n<p>Home buyers continue to recoil from higher mortgage rates and home prices, with pending home sales in July <a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/housing-statistics\/pending-home-sales\" target=\"_blank\" rel=\"noreferrer noopener\">plummeting nearly 20%<\/a> year over year, according to data from the National Association of REALTORS\u00ae released Wednesday. Though summertime is traditionally busy for the real estate market, contract signings across all regions of the country were down by double-digit percentages annually, the data shows. The West has seen the most market contraction, with pending home sales down 30%.<\/p>\n\n\n\n<p>Pending home sales have fallen in eight of the last nine months as the market retreats from its pandemic highs. Still, NAR Chief Economist Lawrence Yun says a turnaround is likely. \u201cIn terms of the current housing cycle, we may be at or close to the bottom in contract signings,\u201d he says. \u201cThis month\u2019s very modest decline reflects the <a href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/economy\/mortgage-rates-settle-in-the-5-range\">recent retreat in mortgage rates<\/a>. Inventories are growing for homes in the upper price ranges, but limited supply at the lower price points is hindering transaction activity.\u201d<\/p>\n\n\n\n<p>Affordability is taking a big hit, too, plunging in June to its <a href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/economy\/homes-haven-t-been-this-unaffordable-since-1989\">lowest level since 1989<\/a>, NAR reports. Rising mortgage rates have made home loans more expensive, adding to the cost of homeownership. The typical monthly mortgage payment was nearly $2,000 in June, up 54%\u2014or $679\u2014compared to just one year ago. \u201cHome prices are still rising by double-digit percentages year over year, but annual price appreciation should moderate to the typical rate of 5% by the end of this year and into 2023,\u201d Yun says. \u201cWith mortgage rates expected to stabilize near 6% alongside steady job creation, home sales should start to rise by early next year.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cdn.nar.realtor\/sites\/default\/files\/styles\/inline_paragraph_image\/public\/assets\/images\/NAR-JULY%202022-PHS.png?itok=OSE49G6-\" alt=\"NAR pending home sales graphic\"\/><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.nar.realtor\/melissa-dittmann-tracey\"><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.nar.realtor\/melissa-dittmann-tracey\"><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.nar.realtor\/melissa-dittmann-tracey\"><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.nar.realtor\/melissa-dittmann-tracey\"><\/a><\/p>\n\n\n\n<p>\u00a9National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Pending home sales in July dropped nearly 20% year over year as the housing market continues to slow. But a turnaround is in sight, says Lawrence Yun. Home buyers continue to recoil from higher mortgage rates and home prices, with pending home sales in July plummeting nearly 20% year over year, according to data from &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/contract-signings-down-again-may-have-hit-bottom\/\">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-23279","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>Contract Signings, Down Again, May Have Hit Bottom - 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\/contract-signings-down-again-may-have-hit-bottom\/\" \/>\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\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/contract-signings-down-again-may-have-hit-bottom\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/contract-signings-down-again-may-have-hit-bottom\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Contract Signings, Down Again, May Have Hit Bottom\",\"datePublished\":\"2024-02-19T15:43:33+00:00\",\"dateModified\":\"2024-02-19T15:43:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/contract-signings-down-again-may-have-hit-bottom\\\/\"},\"wordCount\":304,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/contract-signings-down-again-may-have-hit-bottom\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cdn.nar.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/inline_paragraph_image\\\/public\\\/assets\\\/images\\\/NAR-JULY%202022-PHS.png?itok=OSE49G6-\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/contract-signings-down-again-may-have-hit-bottom\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/contract-signings-down-again-may-have-hit-bottom\\\/\",\"name\":\"Contract Signings, Down Again, May Have Hit Bottom - 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Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"description\":\"Properties and Real Estate for Sale\",\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"caption\":\"admin\"},\"logo\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\"},\"description\":\"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. 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":"Contract Signings, Down Again, May Have Hit Bottom - 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\/contract-signings-down-again-may-have-hit-bottom\/","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/contract-signings-down-again-may-have-hit-bottom\/#article","isPartOf":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/contract-signings-down-again-may-have-hit-bottom\/"},"author":{"name":"admin","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"headline":"Contract Signings, Down Again, May Have Hit Bottom","datePublished":"2024-02-19T15:43:33+00:00","dateModified":"2024-02-19T15:43:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/contract-signings-down-again-may-have-hit-bottom\/"},"wordCount":304,"publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"image":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/contract-signings-down-again-may-have-hit-bottom\/#primaryimage"},"thumbnailUrl":"https:\/\/cdn.nar.realtor\/sites\/default\/files\/styles\/inline_paragraph_image\/public\/assets\/images\/NAR-JULY%202022-PHS.png?itok=OSE49G6-","keywords":["Anthony DiDonato","News","Real Estate","tips"],"articleSection":["News","Real Estate Tips"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/contract-signings-down-again-may-have-hit-bottom\/","url":"https:\/\/www.anthonydidonato.net\/wordpress\/contract-signings-down-again-may-have-hit-bottom\/","name":"Contract Signings, Down Again, May Have Hit Bottom - 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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\/23279","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=23279"}],"version-history":[{"count":0,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/23279\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/media?parent=23279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/categories?post=23279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/tags?post=23279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}