Home Sales Fell by 5% in July, Year-on-Year

The National Statistics Institute reported this week that the decline in home sales moderated in July, after registering a drop of 5% compared with the same month of 2012, to a total of 25,706 transactions.

With the July figure, the sale of homes accumulated three consecutive months of declines, after returning to negative rates in May, when they fell by 3.7%. Of the total, 44.5% of the transactions in July were for new housing (11,447 units) and 55.5% for second-hand housing (14,259).

The decline in May came after housing sales increased by almost 11% in April, following a very bad month of March, in which these operations fell by more than 12%.

Month-on-month, however, housing sales rose by 7.3% (July over June), which is 0.6 points higher than the previous year.

El Economista reported that the total number of property transfers recorded in the land registries (from public deeds previously registered) was 148,080 in the month of July, which is 10.2% more than the same month of 2012, and 8% higher than the figure recorded in June 2013.

By region, in July, the total number of property transfers recorded in the property records per 100,000 population were highest in the regions of La Rioja (620) and Castilla y León (606). The region with the highest annual growth rate was Murcia (36.7%), while the region with the highest decline annually was Extremadura (-12.3%).