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Sales of Homes in Spain Slowed in May

Sales of Spanish homes fell in May

Sales of Spanish homes fell in May

May saw a total of 200,906 property transfers registered, a fall of 5.4% than in the same month in 2022.

Of those transfers, 109,714 related to property sales, an annual decrease of 7%, according to data from the INE.

86.8% of the sales registered in May correspond to urban properties and 13.2% to rustic ones. In the case of urban property sales, 58.9% were for house purchases.

The number of sales of rustic properties decreased by 6.7% in May in the annual rate, while sales of urban properties by 7.0%. Home sales registered an annual decrease of 6.4%.

Of the homes sold in May, 19% were new build properties, while the remaining 81.0% were second-hand.

The number of sales of new homes increased by 4.1% compared to May 2022, while that of used homes decreased by 8.6%.

Sales by Autonomous Community

In the month of May, the total number of property sales in Spain registered in the property registers per 100,000 inhabitants reached its highest values in Castilla y León (866), La Rioja (811) and Aragón (808).

Cantabria (18.8%), Principality of Asturias (7.8%) and Extremadura (5.0%) registered the highest annual variation rates.

In turn, La Rioja (–21.8%), Madrid (–16.9%) and the Basque Country (–14.6%) presented the lowest annual rates.

Considering registered home sales, the communities with the highest number of transfers per 100,000 inhabitants are Valencia (232), Cantabria (183) and Andalucía (173).

The autonomous communities that presented the highest annual increases in the number of home sales in May were Cantabria (21.1%), Principality of Asturias (8.6%) and Castilla y León (7.9%). Andalucía saw a small increase of just 0.2%.

In turn, La Rioja (–37.0%), Madrid (–20.5%) and the Canary Islands (–19.2%) registered the greatest decreases. The usually popular Balearic Islands also saw a significant fall registering -17.1% fewer sales.