House Prices Fall for Eighth Month in a Row, but Decline is Decreasing: September 2022 Report

House prices fell for the eighth month in a row in September compared to a year earlier. Owner-occupied homes were on average 3.5 percent cheaper than in September 2022. But the decline is becoming smaller.

House prices have been rising on a monthly basis since June, according to the latest figures from statistics agency CBS. In September, the average price of owner-occupied homes sold was 422,175 euros, 0.6 percent higher than in August.

House prices rose almost continuously from June 2013 until August 2022, when a decline started, partly due to interest rate increases and decreased consumer confidence. Currently, owner-occupied homes are 90.7 percent more expensive than at the low point in 2013.

This year, 131,885 homes were sold in the first nine months, of which 16,089 were sold in September. Last month, 8.7 percent fewer homes were sold than in September 2022.

2023-10-23 03:05:10
#Dip #house #prices #months #Economy