The Italian Housing Market Survey has been released for the third quarter of 2023.
The survey looks at current trends and short-term expectations for the residential real estate market and is conducted by the Bank of Italy together with Tecnoborsa and Agenzia delle Entrate.
According to the Italian Housing Market Survey of 1,451 real estate agents conducted between 25 September and 25 October 2023, the already negative balance between assessments of an increase and those of a decrease in house prices widened further in the third quarter, despite price stability still prevailing in a majority of reports. The average time on market and the average discount on asking prices were unchanged at low levels. Demand remained weak: assessments of a decrease in the number of potential buyers continued to outweigh those of an increase. Real estate agents reported homebuyer difficulties in securing mortgage loans for house purchases at levels not seen since late 2014. Rents were reported to be on the rise for the third quarter of 2023 but stable for the current quarter. The outlook for the housing market has continued to deteriorate both for agents' own markets and for the national market.
