Housing Sales Figures
Housing sales are pretty low these days. According to recent statements, housing sales are declining in October. Compared to the same period last year. In the same period of last year, the market was more active. Compared to the same period of the year, it decreased by %5.7. It is thought to have many influences on it. Housing interest rates are thought to be the biggest impact. Interest rates were below %1. But interest rates have now risen above %1. This affected the consumer. House purchases have fallen due to higher home loan interest rates.
Turkey Statistical Institute has published the existing home sales data. According to this, in October 122 thousand 882 units were sold. Initial sales fell by %7.59 year-on-year. Second-hand sales declined by %3.95 year-on-year. Sales ratios to foreigners have increased. Foreign sales increased by 70.95 percent year-on-year.
Mortgage Home Sales experienced a great decline. In October, mortgage sales fell by 19.7 percent annually. As a result, the most severe decline has been recorded in mortgage sales since July 2016. The market is not going very steady. The question of what will happen over time.While the sales figures for housing are fluctuating, there is also an increase in the interest rates on the housing loans. This increase has reduced housing sales. Housing interest rates have reached high values. This is upsetting those who want to buy a house. The high interest rates prevent those who want to buy a home. There are various campaigns. People are heading for this campaign. They tend to interest-free projects.