Tecnoborsa, HOUSING MARKET - Q3 2023

In Q3 2023, according to the survey conducted among 1,451 real estate agents from 25 September to 25 October 2023, the following significant results emerged

Changes in Real Estate Quotations:
- The share of agents who consider listings stable remains preponderant at 61.3% (up from 63.0% previously).
- However, the negative balance between increasing and decreasing quotations widened, with 28.6% of agents reporting a decrease, particularly in the Centre-South.

Transactional Activity:
- The percentage of agencies selling at least one home falls to 80.8% (from 84.2% in the previous quarter), with a predominance of pre-existing home sales (82.0%).

Demand and Mortgage Difficulties:
- Demand remains weak, with the negative balance between growth and decline judgments of potential buyers becoming more negative (-39.6 percentage points).
- Difficulties in obtaining a mortgage reach 34.4%, the highest level since 2014.

Sales Prices and Sales Times:
- The average discount on sales prices remains low at 8.5%, while selling times remain stable at 5.9 months.

Future Outlook:
- Negative expectations persist, with a negative balance for expectations of improvement in the home market (-39.0 percentage points) and the domestic market (-43.7 percentage points).
- Changes to the 'Superbonus' are perceived as negatively affecting both housing demand and supply in 2023 and 2024.

Rents:
- The share of agents reporting an increase in rents in Q3 rises, with a positive balance of 46.5 percentage points.

Territorial Considerations - Veneto Focus:
Based on the survey, a territorial context with particular nuances emerges. In this context, Seasons Real Estate, operating in the Veneto region, offers an unbeatable mortgage service, guaranteeing customised and competitive solutions to meet market needs.

This article is written on the basis of information provided by Tecnoborsa and represents a summary analysis of Q3 2023 in the real estate context, with a territorial focus on Veneto.


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