Home sales seek their bottom: operations fall 10.5% in the sixth consecutive decline

by archynewsy
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The slowdown in the real estate market is a fact, the only thing left to determine is its scope and at what level it will mark the new cruising speed. Until then, falls in indicators such as sales occur month after month. In July, the decrease in operations was 10.5% compared to the same period in 2022, reaching 48,303 transactionsits lowest figure this month since 2020.

With this year-on-year decline, which increases by more than four points that registered in June (-6.4%), the sale and purchase of homes has had six months of negative year-on-year rates, as shown in the data from the National Institute of Statistics (INE) published this Wednesday.

The declines occurred in both the new and second-hand housing segments. Specifically, the sale and purchase of used homes fell by 11.2% in the seventh month of the year, to 40,036 operations, while transactions carried out on new apartments decreased by 7.4%, to 8,267 operations.

92.7% of the homes transferred by sale in July were free homes and 7.3% were protected. In total, the purchase and sale of free homes fell by 10% year-on-year, to 44,766 transactions, while the purchase and sale of subsidized homes fell by 16.5%, to a total of 3,537 transactions.

On a month-on-month basis (July over June), home sales contracted 10.5%, its biggest drop in a month of July in at least five years.

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