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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

DATA SNAP: Spain 3Q House Prices -7.8% On Yr Vs -8.2% In 2Q
 
   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

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=FMWnFxARWKLytFHIB920MQ%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

October 15, 2009 03:27 ET (07:27 GMT)


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