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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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The One Thing Every Homeowner Needs To Know About a Recession

 

A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn’t mean homes will lose value.

The National Bureau of Economic Research (NBER) defines a recession this way:

“A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.”

To help show that home prices don’t fall every time there’s a recession, take a look at the historical data. There have been six recessions in this country over the past four decades. As the graph below shows, looking at the recessions going all the way back to the 1980s, home prices appreciated four times and depreciated only two times. So, historically, there’s proof that when the economy slows down, it doesn’t mean home values will fall or depreciate.

The One Thing Every Homeowner Needs To Know About a Recession | Simplifying The Market

The first occasion on the graph when home values depreciated was in the early 1990s when home prices dropped by less than 2%. It happened again during the housing crisis in 2008 when home values declined by almost 20%. Most people vividly remember the housing crisis in 2008 and think if we were to fall into a recession we’d repeat what happened then. But this housing market isn’t a bubble that’s about to burst. The fundamentals are very different today than they were in 2008. So, we shouldn’t assume we’re heading down the same path.

Bottom Line

We’re not in a recession in this country, but if one is coming, it doesn’t mean homes will lose value. History proves a recession doesn’t equal a housing crisis.

 

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
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$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
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Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
200 Hidden Hills Drive Ormond Beach FL 32174
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$589,900
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2,429
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200 Hidden Hills Drive Ormond Beach, FL 32174
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Get ready to fall in love with this spacious 2,429 sq ft home that's perfect for growing families and those who love to live big! Featuring 3 bedrooms, 3 full bathrooms, and a versatile flex room with French doors—there's space for a home office, pla

Listing courtesy of Brett Lambert of Signature Homes Realty Group
1051 Ocean Shore Boulevard 1103 Ormond Beach FL 32176
New Listing - 8 hours on site
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$495,000
2
BEDS
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TOTAL BATHS
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1051 Ocean Shore Boulevard 1103 Ormond Beach, FL 32176
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Experience breathtaking, unobstructed ocean views from this elegant 2-bedroom, 2-bathroom direct oceanfront residence, located on the 11th floor of the highly desirable Van Lee condominium. This beautifully maintained unit features tile flooring thro

Listing courtesy of Sarah Caudill of Florida Life Real Estate Group
1318 Riverside Drive Holly Hill FL 32117
New Listing - 8 hours on site
1 / 44
$1,050,000
3
BEDS
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TOTAL BATHS
2,039
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1318 Riverside Drive Holly Hill, FL 32117
Single Family Residence For Sale
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Boater's Paradise on the Halifax River - Custom Waterfront Retreat! Live the dream in this 2020 custom-built, hurricane-code home on the Halifax River. Located in a non-flood zone with riparian rights, enjoy a private covered dock with electric, wat

Listing courtesy of Mike Flannery of Venture Development Realty, Inc

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DOWNLOAD MY LATEST REAL ESTATE GUIDES

  

Related posts:

  1. Is a Recession Here? Yes. Does that Mean a Housing Crash? No.
  2. A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]
  3. Recession? Yes. Housing Crash? No.
  4. 3 Reasons This is NOT the 2008 Real Estate Market

Posted in: Blog, For Buyers, For Sellers, Housing Market Updates

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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