Multivariate model: housing overview
- The model groups together seven variables: nominal price, real price, sales, inflation, mortgages, interest rate and employment.
Interpretation and observations
All variables are represented as a percentage. Some clarifications to facilitate its reading:
- Unemployment, Inflation: average rate for the given year.
- Real price1: percentage of difference between the nominal and the inflation rate.
- Mortgages, Home sales, Nominal price, Interest rate (Mibor/Euribor): percentage of annual change compared to the previous year.
- Housing prices, from 1985 to 2006, according to Sociedad de Tasación (Access to data is under request, but can be seen in the linked publication): Publication, Link
- Housing prices, from 2007 onwards, according to the notaries (Grupo 5 > Acto 501 - Compraventa inmuebles > Inmuebles en fincas urbanas, viviendas): Link
- Home sales (Results > Annual > Dwellings transferred by type of acquisition > Sales): Link
- Mortgages (Results > Annual > National results and by Autonomous Community > Mortgages constituted, over the total properties, by nature of the property > Dwellings): Link
- Unemployment (Results > Annual > Unemployed persons > Unemployment rates by sex and age group): Link
- Inflation data (Table: average inflation Spain (CPI) - by year): Link
- Population according to INE (Results > Main series since 1971 > National results, Resident population by date, sex and age > Data used is from January 1st of the current year): Link
- Euribor 1-year rate averaged, from 2002 onwards (Euribor 1-year - Historical close, average of observations through period ): Link
- Mibor 1-year rate averaged, from 1979 to 2001 (Cuadro 19.1 del BE - Tipo de interés. De referencia. Oficiales. Mercado hipotecario. Interbancario. Mibor a 1 año): Link