DATA SNAP: Spain 3Q House Prices -7.8% On Yr Vs -8.2% In 2Q
Thu, Oct 15 2009, 07:27 GMT
http://www.djnewswires.com/eu
By Jonathan House Of DOW JONES NEWSWIRES
MADRID (Dow Jones)--Spanish house prices continued to fall in the third quarter as home sales decline and builders try to unload large inventories accumulated during a decade-long housing boom.
Third-quarter housing prices fell at a 7.8% annual rate after a 8.2% decline in the second quarter and a 6.5% fall in the first quarter, according to data Thursday from the Spanish housing ministry.
Spain's housing boom - driven by historically low interest rates and strong immigration - peaked in 2006. That year, more than 700,000 houses were started in Spain, more than Germany, France and Italy combined.
Housing ministry Web site: http://www.mviv.es
- By Jonathan House, Dow Jones Newswires; +34 91 395 8121; jonathan.house@dowjones.com
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October 15, 2009 03:27 ET (07:27 GMT)
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