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Home Sales Slowed Across Spain in June

Home Sales Slowed Across Spain in June
Home Sales Slowed Across Spain in June

The Canary Islands saw a fall of 22.5% in June

In June, there were 81,218 property sales recorded in the property registers, 7.7% less than in the same month last year.

86.9% of the sales were for urban properties, with 13.1% being rural. In the case of urban, 58.1% were home sales. The number of rural property sales fell by 10.7% in June on the annual rate, while urban property sales fell by 7.2%. In the case of housing sales, the annual fall was 9% – the largest fall in recent months. In fact, only four autonomous communities across Spain saw an increase in home sales in June, according to data from the INE.

Results by Autonomous Community

In June, the total number of transferred properties per 100,000 residents reached its highest value in La Rioja with 713 transfers. This was followed by Aragón (670) and Castilla y León (661).

Aragon (3.7%), Galicia (2.4%) and La Rioja (0.4%) have the highest annual variation rates.

On the other hand, the Basque Country (–13.1%), the Balearic Islands (–12.4%) and Extremadura (–9.2%) have the lowest annual rates.

Based on the sales of registered homes, the communities with the highest number of transactions per 100,000 inhabitants are Valencia (159), Region of Murcia (128) and Andalusia (123).

The communities that have the largest annual increases in the number of home sales in June are Castilla – La Mancha (9.2%), Murcia (7.2%), Galicia (4.5%), and Extrmadura (3.4%). Incidentally, these are the only communities to register positive variations in home sales in June. In a sign that the property market may be slowing all other communities registered annual falls in the number of home sales.

The Canary Islands registered the most negative annual variation rate in June (–22.5%), followed by the Balearic Islands (–17.4%) and Aragón (–13.9%). Also seeing a fall above 10% was Andalusia with -12.1%, Valencia with an annual fall of -10.4%, and Madrid with -10.2%.