I do not think you need to care about recession unless you are an economist. Definitely home prices are pretty much stabilizing in San Diego county. Local market conditions are more important than recession for a residential home buyer.
Recession is a technical term. Economists will know only after the recession was over. National Bureau of Economic Research (NBER) takes a few months (6 to 9 months after recession was over) to determine if a peak or trough has occurred in the US.
