Although it is true that the sale of homes fell again in September, this decrease was the lowest in the last 7 months, 1.1%, according to data from the National Institute of Statistics (INE), which is a clear sign that the effects of the coronavirus in the sector are beginning to dissipate.
Thus, the fall in September is not only the lowest in recent months, but it is already below double digits, which led to 37,839 operations. The search for housing to buy continued to rise
More significant is the month-on-month evolution. The sale of homes registered in September compared to August registered an increase of 20.5%.
The sale of new housing, which still represents just over 22% of the total, shot up 29.2% in September to 8,388 transactions.
It is its largest increase since November 2017 and the highest number of operations in a month of September in the last six years. Ferran Font , director of the piso.com research service , believes that these data invite optimism: “The market is gradually returning to normality pre-coronavirus.
The next figures will correspond to the month of October, in which the change in trend will probably continue to consolidate and growth in the volume of operations may already be registered compared to 2019 “.
These improvements will continue to be conditioned by the reality of each territory and the impact of the second wave on the economy in general, and the impact it may have on the income of Spanish families.
The support of the Administration both to the sector and to individuals will be decisive to find the stability necessary to confidently face both the end of 2020 and the economic recovery, the expert continues.
In fact , the September data is very close to the 40,000 homes signed, with a total of 37,839 purchases and sales, and it is a very encouraging figure since it indicates that, for the moment, “the demand for housing has been strongly awakened and A slight drop in this month of September may make us think that we will soon be able to start collecting positive data on this statistic, ”explains Anaïs López , Fotocasa’s communication director .
The two experts emphasize that the month-on-month data is very promising, something that was also noticed in July.
The month of August is usually a month in which the holidays mark a lot the closing of the sale and purchase operations and this great growth is explained by the fact that many operations were signed in September, with the return to normal after the holiday break, he emphasizes Lopez.
Two reasons that will pull the housing market
There are two main reasons why the housing market will soon return to normal.
The first of these is financing. The European Central Bank (ECB) will maintain interest rates at the current levels until the end of 2023 or the beginning of 2024, which has led the banks to calculate that the Euribor, the index to which most mortgages are referenced , will remain negative for ten years, until 2030.