Turkey Home Sales Fell 9.3% in September as Resales Slumped
New-home sales rose, but a steep drop in second-hand transactions pulled total sales lower, while mortgage-backed purchases increased.
Key takeaways
- September home sales fell 9.3% year over year to 142 bin 390.
- New-home sales rose 3.9%, while second-hand sales fell 15.3%.
Turkey recorded 142 bin 390 home sales in September, down 9.3% from a year earlier, according to the Turkish Statistical Institute (TÜİK). New-home sales rose 3.9% to 51 bin 519, while second-hand sales fell 15.3% to 90 bin 871.
Mortgage-backed sales increased 5.1% year over year to 23 bin 397. They made up 16.4% of all home sales; other sales fell 11.6% to 118 bin 993.
For January through September, total home sales declined 7.2% from the same period a year earlier to 1 milyon 92 bin 919. In seasonally and calendar-adjusted figures, new-home sales rose 5.5% from August, while second-hand sales were unchanged.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
