Housing market grows by 1.6% in June after five months of declines

The housing sales market in Spain has recorded a 1.6% increase in June, putting an end to five consecutive months of declines. This growth represents a total of 59,288 transactions, the highest figure for June since 2007, according to data from the National Statistics Institute (INE).

The increase is partly due to a 6.3% rise in new home sales, while sales of second-hand homes also experienced a slight increase of 0.3%.

Throughout the first half of the year, the total number of transactions has closed with nearly 348,000 operations, indicating a decrease of approximately 10,000 compared to the same period in 2022.

This upturn in the market occurs against a backdrop of changes in buying trends, following a prolonged period of declines that had affected the confidence of participants in the sector.

The increase in property sales may reflect a shift in the dynamics of the real estate market, although a deeper analysis of the factors that have influenced this temporary recovery is needed.