Home sales rose 18.8% in June

Activity continues to recover in the markets after the uncertainty generated by the coronavirus pandemic. And this is reflected in the main indicators. Thus, the sale of housing increased by 18.8% last June compared to the same month of 2021, to add 58,010 operations, as reported yesterday by the National Institute of Statistics (INE). With this advance over one year, this type of operation has chained 16 consecutive months of positive rates.

According to the INE, this latest rebound was the consequence of both the increase in new construction transactions, which increased by 7.1%, to 9,822 transactions, and the increase in the sale of used apartments by 21.5%, to add 48,188 operations.

92.6% of the property transferred by sale in the sixth month of the year was free housing and 7.4% was protected.

In the first case, transactions increased by 20.1% over one year, while in the second, they increased by 4.7%, accumulating a total of 4,309 transactions.

As shown in the presented report, the number of home sales made between individuals in June was 41,420, which is 20% more than in the same month of 2021. Compared to May, the indicator fell by 3.4 %, i.e. 7.2 points less than in the same period of the previous year.

Furthermore, in the first six months of 2022, transactions increased by 23.1%, with advances of 26.2% for second-hand homes and 11% for new ones.

Considering the recorded sales, the communities with the highest number of transmissions per 100,000 inhabitants were the Valencian Community (222), Andalusia (185) and the Region of Murcia (184). Likewise, the autonomous regions that presented the highest annual increases in the number of home sales in June were the Canary Islands (+42.5%), the Principality of Asturias (+38.3%) and Cantabria (+37). .3%). The only region with a negative rate of change is the Community of Madrid (-6.3%).

Fortaleza

After taking note of the data published by the INE, the main real estate portals underlined the solidity of housing despite the context of market uncertainty.

Thus, the director of Estudios de piso.com, Ferrán Font, underlined the “resilient nature” of the Spanish market, despite “the drastic increase in the cost of variable rate mortgages”.

“The figures are once again great news for our industry as one of the main drivers of the Spanish economy. This is explained by a very active cumulative demand, investment in real estate as a safe haven and, above all, the anticipation of home purchases in the face of the rise in rates by the European Central Bank (ECB)”, a- he added.

From Fotocasa, its director of studies and spokesperson, María Matos, highlighted these 16 consecutive months “of strong increases in the number of sales”.

“The real estate sector can verify that it continues to stimulate and respond to this great interest in buying a home that began last year. Home sales continue to be very strong and lead the recovery of the sector,” he commented.

Matos estimated that 2022 could close above 600,000 buys if the pace continues in the second part of the year, although he warned of the possible effect of higher interest rates by the European Central Bank (ECB) and the resulting tightening of mortgage conditions. .

Meanwhile, idealistic spokesman Francisco Iñareta said the volume of closed operations “remains very high”, but indicated that in the coming months progress will be made towards stabilizing or even lowering these. numbers, as a result of inflation. and rising commodity prices.

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