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Residential Market Regains Dynamism, According to Servihabitat

The real estate servicer points to a 12% drop in the stock supply in November compared to October, highlighting the sector's dynamism.

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The real estate service provider Servihabitat has spoken of a return of dynamism to the Spanish residential market after a 12% drop in its stock during the month of November, compared to the previous month.

According to the company, the phenomenon is due to the fact that property owners withdrew their assets from the market at the beginning of the pandemic to preserve their value, especially during the depths of the pandemic and its associated uncertainty.

In July, the supply of housing fell by 14%, compared to June, to 684,618 units, according to data taken from the leading real estate websites and the INE. The situation was reversed with the arrival of optimism in October, leading to a 22% recovery since July. According to Servihabitat, “confidence in the sector and its consolidation have generated dynamic demand that has been able to absorb part of the stock on offer. The recovery, and even intensification, of the volume of sales operations, is apparent in the month of November, when the number of homes on offer fell by more than 10,000 assets, a drop of -12.5% compared to October.”

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