Home Sales Fall by 9% in June

 8 August 2019

The sale of homes in Spain fell by 9% y-o-y in June, as the INE registered a total of 40,961 transactions. The fall was the steepest since February 2014.

The new home sales fell by 7.8% year-on-year, to 7,205 transactions (17.6% of the total), while existing home sales dropped by 9.2% to 33,756 transactions (82.4% of the total). Month-on-month, housing sales fell by 13.9%, according to Spain’s statistical agency, the INE.

Some regions still saw significant growth, such as Castilla-La Mancha (+9.2%), Murcia (+7.2%) and Galicia (+4.5%), while steep falls were seen in the Canary Islands (-22.5%), the Balearic Islands (-17.4%) and Aragon (-13.9%).

Market watchers point to a period of adaptation after the entry into force of the mortgage law, a less benign international economic environment and a generalised slowdown as the pace of growth moderates due to a maturing market.

Original Story: Expansión – M. G. Mayo

Adaptation/Translation: Richard D. K. Turner

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