The model groups together seven variables: nominal price, real price, sales, inflation, mortgages, interest rate and employment. All variables are represented as a percentage.
Unemployment, Inflation: average rate for the given year.
Real price: percentage of difference between the nominal and the inflation rate.
Mortgages, Home sales, Nominal price, Interest rate (Mibor/Euribor): percentage of annual change compared to the previous year.
Data sources
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
Home sales (Results > Annual > Dwellings transferred by type of acquisition > Sales):
Link
Mortgages (Results > Annual > National results and by Autonomous Community > Mortgages constituted, over the total properties, by nature of the property > Dwellings):
Link
Unemployment (Results > Annual > Unemployed persons > Unemployment rates by sex and age group):
Link
Inflation data (Table: average inflation Spain (CPI) - by year):
Link
Population according to INE (Results > Main series since 1971 > National results, Resident population by date, sex and age > Data used is from January 1st of the current year):
Link
Euribor 1-year rate averaged, from 2002 onwards (Euribor 1-year - Historical close, average of observations through period):
Link
Mibor 1-year rate averaged, from 1979 to 2001 (Cuadro 19.1 del BE - Tipo de interés. De referencia. Oficiales. Mercado hipotecario. Interbancario. Mibor a 1 año):
Link