The price of housing accumulated an annual increase of 9.6% in the first nine months of the year, based on the Federal Mortgage Society (SHF) Index of Housing Prices in Mexico.
According to the SHF, the increase in the prices of economic-social class houses is the factor that pushes the increase in the metropolitan area of Querétaro.
The state increase was 0.2 percentage points above the national average, which represented an annual increase of 9.4% in the SHF index.
During the third quarter of the year, increases in the price of housing moderated slightly in the state, leaving the double-digit variations that had been maintained until the January-March quarter of 2024.
In the first quarter of the year, the price index increased 11.6%, in the second quarter it was 9.4% and in the third quarter it was 7.9 percent.
Before the single-digit variations, the entity had six quarters with double-digit increases, from the fourth quarter of 2022 to the first quarter of 2024: 10.6%, 12.9%, 14.1%, 13.7%, 13.5% and 11.6%, respectively.
In particular, in the first half of 2024, the price of housing accumulated an annual increase of 10.5%, but in the accumulated period from January to September the variation was adjusted to 9.6 percent.
Higher increases in 19 states
Due to the variation recorded by the SHF index between the period from January to September of 2023 and that of 2024, Querétaro was one of the 19 entities with a growth above the national average, in contrast to the 13 entities that increased their prices below the average.
The largest increases were recorded in Baja California Sur, which accumulated a variation of 13.9%, followed by Quintana Roo with 12.5%, Baja California with 12.4%, Puebla with 11.8% and Oaxaca with 11.7 percent.
On the other hand, Mexico City had the most moderate increase in the country, with a variation of 5.8%, in addition to Guerrero, where it increased by 6.8%, in Michoacán by 6.9%, in Zacatecas by 7.8% and in the State of Mexico by 8 percent.
Average prices
In the third quarter of the year, the average price of housing rose to 2 million 190,911 pesos in the state of Querétaro, maintaining the third highest price in the country; therefore, it exceeds the national average of 1 million 734,535 pesos.
The two highest prices in the country are those in Mexico City, at 3 million 908,003 pesos, and in Baja California Sur, at 2 million 339,142 pesos.
Conversely, the lowest average prices are those in Durango, at 983,016 pesos, in Tamaulipas, at 1 million 032,834 pesos, and in Tlaxcala, at 1 million 084,200 pesos.
Source: eleconomista
