Home sales decline again in October 2023

The real estate sector in  marke by a continuous decline in home sales that has been dragging on since June. In October, a decrease of 11.1% was recorde compare to the same month in 2022. What predictions can be made for 2024? Sell ​​your house getting more for less Paying a lot to receive little is a thing of the past. GET INFORME FOR FREE How many home sales  occurred? According to the latest report from the National Institute of Statistics (INE), 45,903 home sales were made in the month of October , 11.1% less than the same month last year. Despite this enormous drop, it is worth noting that in October there were 1,817 more sales than in the previous month. These figures show us that, although slowly and gradually, it seems that the real estate market is beginning to recover.

This has been the sale and purchase of housing in the autonomous communities

Putting the magnifying glass on the autonomous communities, there are three that stand out by far from the rest: Andalusia , with a total of 8,894 home sales, Comunitat Valenciana with 7,299 and Catalonia with 7,274. Madrid follows closely with 5,867 sales. At the same time, it is worth Switzerland Phone Number Data highlighting that these results change if we look at the number of home sales per hundred thousand inhabitants. In this section, Murcia is ranke first with 150, Andalusia , which is still at the top, with 130 and La Rioja with 122. Regarding the annual variation rate, all the autonomous communities reflect it negatively, except for six: Navarra (10.1%), Extremadura (6.7%), Principality of Asturias (3.4%), Castilla -La Mancha (3%), Murcia (2.5%) and Galicia (1.3%). For their part, the Balearic Islands (–29.8%), Cantabria (–25.4%) and the Canary Islands (–20.5%) registered the greatest decreases.

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Forecast for the purchase and sale of housing in 2024

We will continue to see a decrease in home sales in the remainder of 2023, but experts give good news for next year: in mid-2024 there will be some stabilization . This fact is based on the forecast of the normalization of housing prices and interest rates by 2024. Although we must always keep Ecuador Phone Number List in mind that the real estate market is very versatile, and there can always be changes. Recommended reading: Purchase and sale lawyer: Why do you need it? It has experts so that it is never a bad time The truth is that many people still want to buy an apartment, but not everyone can afford it, and with the situation of restricted financing policies , the mortgages granted also decrease, so a large part of the demand sees their plans stopped by the market.

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