The

real estate market

maintained the level of euphoria in the month of June, in which

58,010 home sales were registered in Spain

,

18.8% more

than in the same month of the previous year, which represents the largest year-on-year increase for a June since

2007

, according to data published this Friday by the

National Institute of Statistics (INE).

In intermonthly terms,

the number of purchases fell by 3.4%

compared to the record of

May

, when there were

60,100 transactions

in the country, but it far exceeds the drop that occurred in April -up to 47,400 purchases- and the trend is recovering of growth that had been registered in the first quarter of the year.

Except for April, this is the fifth month in which the barrier of 50,000 operations has been exceeded.

Of the 58,010 transactions carried out in the sixth month of the year,

48,188 were for second-hand housing

, a type of purchase that increased by

21.5%

compared to the same month of 2021. The increase that occurs in the

sale of new housing

it is more moderate,

7.1%

, up to

9,822 operations.

The data published today have been well received within the sector, although they are more pessimistic regarding the evolution in the third quarter.

"

The sales are breaking records month by month

, presenting figures that have not been seen since 2007. At the monthly level, a decrease of -3.4% is registered, 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 purchases to decrease.After 16 consecutive months of strong increases in the number of purchases, the real estate sector can confirm that it continues to drive and respond to that great interest in buying a home that began last year.

The sale of homes continues to be very solid

and leading the reestablishment of the sector," said

María Matos

, Director of Studies at

Fotocasa

, knowing the data.

The expert recalls that in the

first six months of 2021 ,

268,000 sales

were closed

and in

2022

we had more than

330,000

sales closed, which represents 23.1% more operations closed than last year.

This evolution could lead to hope that 2022 will close with better data than the last year, which was the best for the real estate sector in 13 years after closing with 565,000 sales.

However, the

rise in interest rates by the European Central Bank

and the consequent

tightening of financing conditions

by banks, together with the problem of

inflation

-which reduces purchasing power and impoverishes families- and fears of a

recession

economy, could

deflate the volume of transactions.

These factors are going to mean "that the second half of the year does not present such high activity and

we will surely stop seeing historical figures,

as we have been seeing during the first six months of the year. In addition, we must also take into account that

inflation runaway that we are experiencing little by little is going to begin to make a dent in the pockets of Spanish households

and the ability to save is going to be reduced by the large increases not only in energy and fuel, but also in the shopping basket ", lamented the Fotocasa expert.

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