Home Sales Fell 5.5% in June, Year-on-Year

August 14th, 2013

The National Statistics Institute reported on Monday that home sales deepened their decline in June, after falling 5.5% compared with the same month of 2012, to a total of 23,966 transactions.

This is the second consecutive monthly decline, after returning to negative rates in May, with a drop of 3.7%.

The May decline came after housing sales had increased by almost 11% in April, after a very bad month of March, when the volume of transactions fell by more than 12%.

Considering only the monthly data (June over May), the sale of homes fell by 8.6%, which is 1.8 points less than in the same month of the previous year, and the lowest in the last five years.

Year-on-year the decline in home sales in June was due to the drop in the sale of new homes, since the volume of transactions on previously owned homes rose by 1.8% to a total of 13,665. Sales of new homes fell by 13.7% to 10,301 transactions.

Most of the home purchases during the sixth month of the year, specifically 89.5%, were for private housing. Sales of this type of housing fell by 3.3% to 21,443 transactions, while the number of transactions for public housing totalled 2,523, representing a decrease of 20.7% compared to June 2012.

The accumulated figures for the first six months of the year show an increase in home sales of 7%.

In June, the highest number of house sales per 100,000 population were registered in the Canary Islands (94) and Valencia (93).

Andalusia stood in the lead in June for house sales, with 4,412 transactions, followed by Valencia (3,811), Catalonia (3,545) and Madrid (2,907).

The regions registering the fewest house sales in June were La Rioja (188) and Navarre (290).

In relative terms, the regions where the rate of house sales increased most, year-on-year, were the Canary Islands (+24.9%) and Navarra (+21.3%), while the largest decreases were registered for Extremadura (-47.9%) and Asturias (-30.5%).

According to the National Statistics Institute data, the number of purchases of rustic properties rose by 4.3% in June, year-on-year, while that of urban properties fell by 3.3%.

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