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Home Sales Reach Pre-Covid Levels, According to UCI

Housing sales fell by 31% between April and May 2020, but these transactions have been recovering, having dropped by 1% y-o-y at this point.

The number of home buyers has returned to a level similar to the period before the pandemic, going from a fall of 27% in May 2020 to a slight decline of 2% in April, according to the VII Real Estate Barometer carried out by the Real Estate Credit Union (UCI) and its professional development area SIRA.

Half of the more than 1,000 real estate agents queried pointed to stability or even moderate growth in the number of buyers in the first months of 2021. Moreover, they believe that this will be the case in the future.

On the other hand, the study reveals that the coronavirus crisis has had a lesser impact on home sellers. Although the number of sellers fell by 16% at the beginning of the pandemic, it is currently down by 4%, ” without having yet reached the level prior to Covid”, explains UCI. However, according to the real estate agents, the number of sellers is stable and are expected to grow moderately.

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