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Housing Sales Fell by 4.3% in February but Reach the Highest Figure in a Year

According to the INE, despite the decline in housing sales to 43,185, the figure represents the highest monthly since February 2020, before the pandemic.

The sale and purchase of homes fell by 4.3% last February compared to the same month in 2020, to 43,185 transactions. In monthly terms (February over January), house sales and purchases rose by 8.6%, the highest rise in the month of February in at least five years.

Despite this decline, the total number of housing sales reached its highest point since February 2020, the month before the coronavirus outbreak. The data stems from Portugal’s National Statistics Institute (INE).

Home sales have been falling for two consecutive months, including the year-on-year decline in February. However, the decline this month was much more moderate than that of January, when transactions fell by 15.4%.

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