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Seven autonomies suffer a drop of more than 10% in the sale of homes

Date: July 24, 2024 Time: 06:22:44

The sale of housing continues its decline and has already accumulated up to five months of setbacks after registering a 6.4% decline in June compared to the same month of 2022. As reported this Friday by the National Institute of Statistics (INE), in the month In June, a total of 53,999 operations were carried out in Spain, where in up to seven autonomous communities the decline was greater than 10%, being La Rioja (–20.5%), Cantabria (–18.8%) and Extremadura (–15 8%), the three most penalized by the slowdown in the real estate market.

The setback coinciding with a sharp rise in real estate prices, the continued increase in the cost of credit as a result of the policy adopted by the ECB that maintains the rise in interest rates and the rise in the Euribor. The decline in the sale of homes in June was achieved in up to 14 communities, being more pronounced in La Rioja, Cantabria, Extremadura, the Basque Country (-13.5), Aragon (-12.8), the Balearic Islands (-12.6) and Galicia (-11.6). On the other hand, transactions grew in Navarra (5.1), Asturias (1.9) and the Valencian Community (1.1).

Fifth consecutive fall in June

In the month of June, this type of activity fell again by 6.4%, thus repeating the data for the month of May, in this way it is certified that the annual decrease is less marked than previous periods, for example in April the collapse was of up to 8.1%. These decreases in transactions are quite pronounced, since they are compared with the data for 2022, which was a year in which purchases and sales marked maximums in the last fifteen years in Spain.

In line with the previous month, 92.3% of the homes transmitted are free, 49,852 units, and 7.7% protected (4,147). 19.4% of the properties are new and 80.6% used. In monthly terms, the number of operations on new homes increased positively to 10.7% compared to the same month in 2022, while that of used homes decreased by 9.7%. Of these acquisitions, 37,015 operations have been carried out by individuals, which is 10.5% less than in the same month of 2022.

Sales in the first half of 2022

The purchase and sale of housing appeared in the first semester a decrease of 4.5% compared to the same period a year earlier, dragged down by the downward trend of these months of January, of which only ended in positive by rising 6.6%, according to data published this Friday by the National Institute of Statistics (INE).

According to the historical record, the sale of housing has entered a downward spiral throughout this year, which began with a rise of 6.6% after concluding December with a drop of more than 10%. However, in February activity fell again in the same proportion, a trend that continued in March with an adjustment of 5.7%, which was accentuated in April with a cut of 8.1%, marking its lowest figure in two years, and What follows in May.

Other market operations

In the month of April, 191,749 farms were registered in the property registers, 2.5% less than in the same month of the previous year. The greatest decreases corresponded to donations, which fell by 6.6% to 4,305 operations.

Other operations (land concentrations, horizontal divisions, daciones en pago, foreclosures or judicial adjudications, among others) totaled 35,980 in June, 7.1% less. On the contrary, swaps increased 12.1% to 545 and inheritance operations 1.3% to 44,868.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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