In the first six months of the year, the sale of homes grew 23.1% compared to the same period of the previous year, to accumulate 330,997 transactions, according to data published by the National Institute of Statistics (INE), its best first semester since 2007. In the month of June alone, 58,010 homes were bought and sold, which represented an increase of 18.8% compared to the figure for a year ago. Although this increase is lower than that registered in May (27.7%), with this interannual increase in June, 16 consecutive months of positive rates have been accumulated.
“If this intense rhythm of sales continues like this during the year we could close well above 600,000 sales and make it the best year since 2007. However, the recent rise in interest rates by the ECB and the consequent tightening of mortgage conditions will mean that the second half of the year will not present such high activity and we will surely stop seeing historical figures,” says María Matos , director of Studies at Fotocasa, without forgetting the inflation “that we are experiencing little by little that is going to start to make a dent in the pockets of Spanish households”.
However, operations slowed down compared to May with a fall of 3.4% (which means 7.2 points less than the previous year). It must be taken into account that in the fifth month of this year, 60,059 homes were registered, the best mark since January 2008.
“This year’s sales data is breaking records month by month by presenting figures that have not been seen since 2007. At the monthly level there is a decrease of -3.4%, a setback that was already expected due to the announcement of the rise in rates and the arrival of the summer season, which also causes the rate of sales to drop”, says Matos, who adds that “the sale of homes continues to be very solid and leading the recovery of the sector”.
16.9% of the homes transferred by sale in June were new, while 83.1% were used homes. The number of operations on the former rose 7.1% compared to the same month of 2021, to add 9,822 operations. For its part, the interannual increase in the sale of used apartments was 21.5%, reaching 48,188 transactions. However, as in the total figure, at a monthly level both categories registered decreases in operations, with a fall of 4.3% in the case of new housing and 3.2% in used housing.
According to the protection regime, 92.6% of the houses transferred by sale in June were free and 7.4% protected. In year-on-year terms, the number of free homes transferred by sale increased by 20.1% and that of protected ones by 4.7%.
Madrid, the exception
Regarding the map of the country, the sale of homes grew in all the autonomous communities, with the exception of the Community of Madrid, where operations fell by 6.3% compared to June 2021. A fact that Ferran Font, director of Studies at pisos.com considers an “indication of the normalization of the figures in the main markets, which are the first to notice the changes in trend”.
Thirteen regions registered double-digit growth in the last year, and a dozen of them did so above the national increase. The Canary Islands presented the highest year-on-year increase in the number of home sales, with a rise of 42.5%. It was followed by Asturias (38.3%), Cantabria (37.3%), La Rioja (34.7%), the Balearic Islands (33.2%), the Valencian Community (33.1%) and Navarra (33%). .
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