The performance of the real estate market in the month reflects the scenario seen throughout the year, with an increase in sales and a decrease in launches, according to Secovi-SP data
OR real estate market in the city of St. Paul There was an increase in sales and a decrease in launches in September, compared to the same month last year, according to data from the Housing Union (Secovi-SP) released on Tuesday 31st.
Sales grew by 18.6%, to 7,417 units. Launches fell 10.4%, to 7,369 units. Sales velocity (units sold relative to total available) was 10.9%, up 2.3 percentage points, indicating a stronger level of activity.
The behavior of the real estate market in September was the same as that observed throughout the year, i.e. with an increase in sales and a decrease in launches.
In the last 12 months, through September, sales increased by 6.5%, for a total of 74.4 thousand units. Home sales falling within the My Home, My Life (MCMV) they grew by 5.6%, reaching 35.5 thousand units, while sales of medium-high range properties grew by 7.6%, to 38.8 thousand units.
Even in the last 12 months, launches decreased by 16.5%, reaching 70.1 thousand units. In MCMVs the decline was 14.6%, to 30.6 thousand units, while in medium and high standards the decline was 18.1%, to 39.4 thousand units.
With more sales than launches throughout the year, inventory has shrunk. The total number of available units (planned, under construction and new construction) fell from 66.6 thousand units a year ago to 60.7 units, a reduction of 8.8%.
Research has shown that MCMV properties represent only 35% of the total, or 21.1 thousand units. Considering the current sales pace, they would sell out in just seven months. Medium and high level homes represent 65% of the stock, or 39.7 thousand units, equivalent to 12 months for complete disposal.
Source: Terra
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