Home Buying and Selling tempered a drop to 5.7% and two-month strings of setbacks

Home purchases and sales recorded a decline of 5.7% in March compared to the same month last year, to a total of 55,778 operations, in the context of rising interest rates to contain inflation, the National Institute of Statistics reported on Thursday. (INE).

With this year-on-year decline, home chain sales saw negative rates for two months after declining by 6.6% in February.

The decline in home sales in March was due to declines in both used apartments and new homes.

Specifically, sales of used homes declined by 5.3% in the third month of the year, to a total of 45,309 transactions, while deals executed on new apartments decreased by 7.5%, to 10,469 transactions.

92% of homes moved by sale in March were free homes and 8% were protected. In all, the sale of private homes was down 6% year-on-year, to 51,302 deals, while the sale of subsidized homes was down 2.8%, to a total of 4,476 deals.

On a monthly basis (March compared to February), home sales rose 11%, the highest March rise in the past five years.

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