The situation on the Moscow real estate market: results of November

The index value of the property in 1803 $ / sq. m. - 0.1% of the price index of expectations - 0.09% per month - 0.0% Index return of 1.42 dwelling Wed returns on bank deposits -0.7 mb / d As expected, the last month of autumn has brought noticeable changes on the capital market of real estate. Which emerged in the summer price stabilization on the Moscow housing continues to persist in spite of minor adjustments to the existing price level. Thus, the results in November confirm the thesis that, until early next year, no major changes in the market is not going to happen. General market average rate of housing prices in Moscow - the index of housing costs - for the last month has changed slightly. Its value in November amounted to $ 1803 per square meter. m, compared to $ 1805 per m in October. Changing the index of a percent can hardly be considered significant, although some commentators try to see in these figures start rolling back price back. A closer analysis of the raw data are understandable reasons for these minor adjustments to the average price index down. They usually occur at the expense of those apartments whose cost is too high and was originally appointed to the calculation of the continued growth of prices in the future. As a result, sales of apartments or reduce the price to more than adequate, or is removed from the apartment sale, but not always. Similar examples that create a leap frog of average prices, particularly in the context of the individual areas can be found both in the secondary and the primary markets. The desire of people to sell an apartment above the current market value or, finally, to await the resumption of rising prices, about which so much talked about realtors, creates another interesting effect. Some apartments are too long delayed in the market, which leads to an increase in the total number of proposals, which this fall, many observers have noted. However, this does not mean that the sellers of these apartments will lower their prices: - some do not like it because of lack of money in exchange, and others - for investment reasons. Hence, the increased volume of proposals may persist for a long time and does not affect the price reduction, but rather a play on their improvement. Another reason for the increase in the number of proposals in the current context is the desire to know the exact market value of the apartment, which is typical for most people who bought the house in order to free capital investments or savings. When data on the market vary widely, and it is not clear how adequate prices of some individual proposals, the most reliable way to estimate - to give a free ad in the newspaper and understand the degree of interest in his apartment, depending on the declared price. However, the appearance of such advertisements does not mean that these people are really going to sell something. It should be understood that although the link between supply of and changes in the price level theoretically exists, it is not so simple and straightforward as it sometimes seems. The increase of the proposals on the secondary market in the current environment is the natural reaction of the market (and participants) to the changed circumstances relating to the cessation of large-scale growth of prices and the onset of stabilization. So now the increase in the number of proposals can not make any definitive statements about the beginning of a sharp decline in housing prices or any other consequences. And maintaining a stable price level in the Moscow real estate market for almost half a year is this confirmation.