Carlos Smerdou, CEO of Foro Consultores, tells us what is the situation and trend of the residential market.
The latest housing market data show a tendency towards moderation of sales and prices. What happened in August (transactions down) is a timely fact, due to the entry into force of the Mortgage law It has slowed the market and delayed transactions. Without forgetting the economic and political uncertainty. That together with news or bad omens coming from some agencies that are not helping the market.
Anyway, there is a point that is good to keep in mind when analyzing data. There are sales on new housing plans that are not accounted for in official statistics until the deed is reached, but they are sold. And in the coming months they will see each other.
The market must go towards normalization, the fluctuations are not good
This is coupled with political uncertainty that does not help. We believe that in the coming months it will return to normal, although it is clear that the market is normalizing, without disproportionate increases. And even some prices in certain areas / promotions will suffer some correction, since the demand does not accept them.
But, moreover, I dare to say that, after these months, and with less political uncertainty, there will be more joy in the housing market again in the spring. But always talking about standardization Which is where we should go. The swings are not good.
These are them reflections of Carlos Smerdou for idealist News, but if you want to know what other experts in the sector say, do not miss the article of Dove Martinez-Almeida.