house sales They fall in July. According to the latest data published by the National Institute of Statistics (INE), 48,303 operations were closed in the seventh month of the year; this number is 10.5% less than in the same month in 2022, when 53,720 were registered. Although this was the eighth consecutive month of declines in the number of transactions, the declines were discrete: 364,086 trades and transactions were closed during 2023; this is 5.3% less than in 2022.
17 percent in July household 83 percent of those sold are second-hand and 83 percent are new construction. This is a 7% decrease in new properties, 11% decrease in used properties. In the seventh month of the year, 92.7 percent of the houses transferred were free of charge and 7.3 percent were under protection.
In the first half of this year, There was a 4.5% decrease in the number of transactions in the housing marketIt closed at 315,000 compared to 330,000 in 2022. In June, the penultimate record to date, 53,999 sales and purchases were closed compared to 58,010 in the same month last year, representing a decline of almost 7%.
Prices continue to rise
Although the decrease in sales volumes did not stop throughout the year, the same situation did not occur in prices. According to the National Institute of Statistics, housing became 3.6% more expensive in the second quarter. Between April and June, new construction housing increased by 7.7% year-on-year, the largest increase since the second quarter of 2022. The lowest rate in two years was recorded in second-hand houses, with an increase of 2.9%.
The second quarter of 2023, 37th quarter with increases in house pricesThe increase in interest rates and the increase in the cost of financing is noteworthy, especially in the current context.