Home sales moderate their decline in October to 11.1%

Housing sales and purchases recorded a drop of 11.1% in October compared to the same month last year, for a total of 45,903 transactions, its lowest figure this month since 2019, in a context higher interest rates, as indicated this Friday. by the National Institute of Statistics (INE).

With this drop over one year, which eased by more than twelve points compared to September (-23.7%), the sale and purchase of housing experienced nine months of negative rates over one year.

The drop in housing sales in October year-on-year is exclusively due to the drop in second-hand apartment transactions, with sales of new homes having increased slightly.

Concretely, sales and purchases of second-hand housing decreased by 13.5% in the tenth month of the year, totaling 37,056 transactions, while transactions carried out on new apartments increased by 0.8%, to 8,847 transactions. .

92.8% of housing sold by sale in October were free housing and 7.2% were protected. In total, the purchase and sale of free housing decreased by 10.4% year-on-year, to 42,578 transactions, while the purchase and sale of subsidized housing decreased by 19%, to a total of 3,325 transactions.

On a monthly basis (October compared to September), home sales increased by 4.1%, their largest increase in an October since 2019.

Leave a Comment