I wonder if this has already started, ie banks off-loading properties onto the market.
In previous posts where I have quoted Fotocasa results, I post the number of adverts returned in the search page. However, Fotocasa on their main home page show the total number of properties on their site and the number of new properties posted today. Here’s the number at 15:00 UK time
684.904 inmuebles | 14.845 nuevos hoy
The normal number of new properties that it quotes as added “today” is around the 3000-5000 mark. Yesterday is showed nearly 30,000, and now it’s showing almost 15,000,
At first I thought Fotocasa stats were wrong, but I now believe that for a professional advertiser who lists maybe 50 properties under 1 adverts then in the search results this is included as only 1 property as it’s under one advert.
Hence you get 3 types of stats from the site:-
The number of adverts
The number of properties
The number of new properties added today.
So that is why I have seen the number for “The number of new properties added today” increase massively but the number of search results only increase slightly.
So it looks like between yesterday and today 45,000 properties have been added to fotocasa!!!!!!!