2023-11-12 06:24:40
After facing a drop of 36% at the end of 2022, during the current year housing credit seems to have achieved a slight “breather” by heading towards the positive path and growing by 4.2% in the first six months of 2023.
According to official data published by the Institute of the National Housing Fund for Workers (Infonavit), when comparing the placement of mortgage credit for housing in Mexico in 2022 and 2021, there was a drop of 36 percent.
However, in the following six months, that is, between January and June 2023, this trend was reversed, registering an increase of 4.2% compared to the same period in 2022, since the placement went from 357,000 to 372,100 credits.
In a report, the institute explains that “this situation can be explained in part by the low production of housing (especially that of social interest), as addressed in a previous section, and by the growing difficulties that households face in acquiring a home. housing due to increasingly higher prices.”
On the other hand, it also recognized that the increase in housing prices of 11.5% annually in the second quarter of 2023 limited the ability of households to acquire one, which most likely influenced the decrease in mortgage placement in 2022. .
“Despite the decreasing trend in mortgage placement in the market as a whole, the origination of mortgage loans by Infonavit regained its dynamism in the first half of 2023, registering an annual growth of 4.5% in the number of loans placed and of 12.5% real annual in the total amount granted,” he explained.
In relation to the use of credit, the report also observes that financing for the acquisition of housing showed a downward trend both in 2022 and in the first half of 2023, he noted.
According to data from the National Housing Information and Indicators System (SNIIV) and the Infonavit Information System (SII), credits for the acquisition of housing or land decreased by 6.2% in 2022 and 6.0% in the first six months of 2023 compared to to the same period in 2022.
“It is also observed that the placement of purchase financing by Infonavit increased by 4.6% between 2022 and 2023,” he added.
Likewise, regarding the same home acquisition loans, a trend has been observed towards the replacement of new properties with existing ones, which is consistent with the trend of lower production.
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