Our real estate market is boiling again after having gone through very complicated months due to the coronavirus crisis. The Instituto Nacional de Estadística (INE), recently showed the facts and figures concerning housing sales in Spain during this last month of September. This data can be regarded as a small earthquake as it is the best and highest figure we have had in thirteen years. In all, 53.410 deals were carried out, turning the registries upside down and having to go back to April 2008 to find similar figures. We are talking about a 40,6% rise compared to September 2020; this means a positive streak during seven consecutive months. Undoubtedly, this is the confirmation that our real estate system is recovering and housing in Spain has reactivated. We can state that our real estate market has withstood the COVID much better than other sectors.

COFIRMING THE GOOD OMENS

If we fully rely on the housing sales data of 2021, then we can see that it is the second time that the figure of 50.000 operations has been exceeded (the last time took place this last month of July when 50.258 houses were sold). These facts and figures show the solidity and good health that our real estate system is going through: housing in Spain continues to be sold, even though prices have risen in a moderate way. Three weeks ago, we wrote an article in this blog about what was expected to be an increase of 20% in housing sales between then and the end of the year. In that article, we shared the real estate report carried out by a banking entity showing the good moments housing was going through. Previously, at the beginning of the year, experts had made a much more modest forecast than the one later given by this banking entity. This new information offered by INE fully confirms the good omens; most experts coincide on the fact that the pandemic has altered the habits of homebuyers, and this has given our real estate market a good shove. Teleworking arrived, and the fact of having to spend more time at home encouraged a lot of people to look for bigger houses. On the other hand, the economic recovery has helped to improve, month-to month, housing sales. Purchase and sale of homes was again reactivated in the summer of 2020.In spite of the fact that we still cannot consider it to be a complete recovery, we can be in an optimistic mood. This is what the data demonstrates regarding the first three terms of the year, with an increase of nearly 38% in housing sales compared to the same period of last year.

GOING TOWARDS A NEW ERA?

We can say that the 53.410 housing sales that took place last month of September, represent excellent figures which may mark a turning point. So much so that some experts believe that a new era has arrived as regards our real estate system. The pandemic, with everything bad that it brought, has served to make us rethink our way of life and, consequently, what our homes should be like. This has brought about the sale of more houses, as we have already said. In the INE report, the data of second hand housing sales is highlighted, as there has been a year-on-year increase of 43,6%. In all, 42.477 deals were carried out (we have to go back to the year 2007 in order to see similar figures). In relation to new housing, sales increased more than 30% reaching 10.933 deals. Let us see if the forthcoming facts and figures pursue this line and, hence, we could say that we are reaching a new era as regards housing.

Picture 01: jcomp

Picture 02: xb100