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Home buying grew 14.6% in 2017, the highest rate since before the crisis

464,423 houses were sold, the largest number since 2008, the year of the real estate bubble blowout

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Home buying grew 14.6% in 2017, the highest rate since before the crisis

The house still gives signs of recovery. The curve is clear: The climax is in 2007, in midst of a real estate bubble, with more than 775,000 houses sold each year. The background appears in 2013, with 318,830 operations. And from re, a slow escalation that accelerates over last two years, to return to figures that resemble those of 2008. The purchase of houses ends on 2017 with strong growths in all autonomous Communities with respect to one year before. And every month of year re have been strong increases, with rises of more than 20% three months, except for April, in a blip that was linked to week when records stopped.

The sector moves, although some indicators are still far from 2007 brick fever. Prices go up, but y continue below boom (now average mortgage is around 120,000 euros, compared to 150,000 that reached in 2007). And 100,000 houses are no longer built a year. This, added to accumulated new stock happens to consider housing used when it takes more than two years without selling, it makes market with most output second hand: 82% of sold houses were used (381,163, 15.4% more), while housing market n EW grew by 10.8%, up to 83,260 homes.

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As for regime, nine out of ten homes sold last year, 418,915, were free housing, a market that soared 15% last year. The remainder, 45,508, were sheltered houses, whose sale grew somewhat less, a 9.5%.

Are we facing a new bubble? In sector struggling to deny it, because prices are not as inflated as a decade ago, construction has not been runaway and because banks give credit, and with low interests thanks to Euribor in minimum, but with income of families depleted and unemployment in level s high, re is still no buying fever like boom.

"The fact that new work grows again is an unmistakable sign of good health that sector enjoys, although data are still modest in areas with highest demand," explained Fernando Encinar, of idealist real estate portal. "The level of activity and prices has been very intense this year, but we must not forget that we are still very far from maximum of 2007," says director of studies and public affairs of Photocasa, Beatriz Toribio. The recovery, he points out, "arrives very slowly and moderately"

Rises in all Spain

By communities, Andalusia was community where more homes were sold last year, up to a total of 89,337, 12.6% more than previous year. It is followed by Catalonia, with 76,369, a figure that represents an increase of 13.6%, and Madrid, where market grew by 18.9%, until 70,203. In any case, community with highest rate of growth was Castilla-La Mancha, with an increase of 24.7%; Yes, with barely 16,693 houses sold. In relation to population, Valencian Community was one that registered largest number of sales for every 100,000 inhabitants, with 1,753, followed by Baleares (1,717) and Madrid (1,375).

As for month of December, 32,211 homes were sold, 9.2% more than in same month of previous year. Of se, nine out of ten were free housing, whose sale grew 8.4%, and remainder, 3,333, were protected. In addition, 82% of homes that changed hands were used, a market that grew in December 8.8%, compared to 11% increase in sale of new housing.


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