Housing Activity in Puerto Rico saw a diminution this past June 2022, seeing as the number reported for total housing units sold was 1,030. This, compared to June 2021, shows that 39 fewer units were sold, meaning a decrease of 3.65% in units sold. When compared to the previous month of May, there was a decrease of 5%, given there were 54 fewer units sold.
There were a total of 81 new housing units sold in June 2022. This shows an increment of 11, or 15.71%, new housing units sold. However, compared to the previous month, there were 30 or 27% fewer new house units sold.
As for used housing units sold, there were a total of 949 during June 2022. Compared to June 2021, there were 50 or 5% less used units sold. Compared to the previous month there was also a diminution in sales, but at a lesser scale, seeing as only 24 or 2.4% fewer used units were sold.
Overall, sales from January through June in 2022, compared to that same period in 2021, have decreased by 837 or 12.7% units sold. Factor such as, Puerto Rico’s current demography and population status, disbursed federal funding to mitigate COVID-19 economic impact, historical inflation rates, and the substantial increment in interest rates have played their role in influencing this market’s behavior.
