housing sales latest publications
GDP contracted by 8.7% in the third quarter of 2020 compared to the same period in 2019, while housing sales increased by 4%. In Spain we are used to housing being the cause of recessions and being one of the last sectors to recover. The vigor of the upturn in purchases has therefore been a surprise.
The real estate market has not yet recovered the tone it had before the last regulatory reforms. Thus, despite the relatively positive determinants of demand, home sales fell in November, which did not prevent a slight rise in mortgages. Supply-side variables show weakness
Housing sales grew in December and allowed to close 2016 with an increase of 13.5% per year. Housing prices grew at slower pace, 1.5% year-on-year in 4Q16, and accumulates nine quarters of consecutive increases. New housing permits contracted in December, but 2016 ended with an annual growth of 28.9%
In April home sales rose more than expected and mortgage loans in May increased after the significant increase in April. In addition, the INE confirmed that the recovery of housing prices continues. Meanwhile, permits moderated in April. Exposure to uncertainty due to Brexit will be more pronounced in the Mediterranean regi…