↑ Annual evolution of unemployment and housing prices, Spain. The purple shaded area highlights the zone where housing prices decline.
Left axis: average unemployment rate for each year.
Right axis: average price growth rate (inverted) for each year.
Unemployment and housing prices have an inverse relationship, with correlation around -0,35. When unemployment falls, housing prices rise, and vice versa.
↑ Quarterly evolution of unemployment and housing prices, Spain.
Left axis: HPI (Housing Price Index) not inflation adjusted (base 100 = 2015).
Right axis: average unemployment rate (inverted) for each quarter.
Data sources
Unemployment (Results > Annual or Quarterly > Unemployed persons > Unemployment rates by sex and age group):
Link
Housing prices, from 1985 to 2006, according to Sociedad de Tasación (Access to data is under request, but can be seen in the linked publication):
Publication,
Link
Housing prices, from 2007 onwards, according to the notaries (Grupo 5 > Acto 501 - Compraventa inmuebles > Inmuebles en fincas urbanas, viviendas):
Link