Home Sales Rose by 13.9% in July

The sale of homes in Spain increased by 13.9% in July, over the same month of 2014, and reached a total of 32,714 transactions, the National Statistics Institute reported earlier this week. However, the July year-on-year increase is 3.1% lower than the figure registered in June, when sales grew by 17%. The statistical agency’s data corresponds to sales registered in the Property Registers of transactions carried out in months prior to the period of reference.

With the July increase, home sales accumulated their eleventh consecutive year-on-year increase, due exclusively to the 43.1% increase in sales of second hand housing, which amounted to some 26,319 transactions, since the sale of new homes dropped by 38.1% compared with July 2014, to a total of 6,395 transactions.

In the seven months to the end of July, home sales accumulated an increase of 10.5%, with a 36.6% reduction in the number of transactions on new housing and a 42.9% increase in those on second hand housing, while month-on-month (July over June), home sales rose by 7%, which is 2.9% lower than the previous year.

El Economista reported that some 90.3% of the home sales carried out during the seventh month of the year were for free housing, with a year-on-year increase of 14%, reaching a total of 29,551 transactions, whereas the number of transactions on subsidised housing totalled 3,163, with a rise of 12.2% compared to July 2014.

In July, the highest number of home sales per 100,000 inhabitants was registered in Valencia (125), while in absolute terms, Andalucía remained in the lead for the number of home sales in July, with a total of 6,749 transactions, followed by Catalonia (5,267), Valencia (4,908) and Madrid (4,460).

In relative terms, the regions where home sales increased most year-on-year were the Balearic Islands (+37.4%) and the Basque Country (+25.3%), while the largest declines were registered for Extremadura (-9.8%), Asturias (-7.9%) and Murcia (-7.5%).

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