Home sales in the Canary Islands fell by 19.9% in August, the largest decrease among all autonomous communities and well above the average reduction in the country as a whole, which was 3.5%.
This is the first setback recorded since June 2024, according to the progress report released this Monday by the Property Registrars with projected data on 92.9% of the analyzed records.
Specifically, in August, 47,800 registered home sales were recorded, a month that is usually not very representative for anticipating short-term trends, the registrars explain in a statement.
In this regard, they emphasize that it is difficult to predict whether this decrease will continue from September onwards or whether the upward trend will return. In any case, they believe that it will probably be more moderate than in the first half of the year.
Meanwhile, mortgages for the purchase of a home reached 33,117 units, moderating their year-on-year increase to 7.8%.
By autonomous communities, the sale of homes fell in eight autonomous communities and in Melilla, where it decreased by 17% compared to August 2024.
The remaining cuts occurred in the Canary Islands (19.9%), Aragon (12.7%), the Basque Country (9.4%), Murcia (8.7%), Andalusia (8%), Valencia (6.7%), Madrid (6.3%), and Catalonia (0.5%).
Conversely, the largest increases in registered sales occurred in Ceuta (46.2%), La Rioja (33.2%), and Castilla y León (16.7%).
Regarding mortgages on housing, there were declines only in three autonomous communities: Madrid (4%), Andalusia (3.7%) and Asturias (1.8%).
The regions with the highest growth in mortgages for home purchases in August were the Balearic Islands (53.6%), Cantabria (46.5%), La Rioja (38.6%), and Castilla-La Mancha (21%).
Disparate evolution between total purchases and mortgages
Considering all real estate sales registered in August, not just housing, a total of 91,500 transactions were recorded, representing a decrease of 1.5% compared to August 2024.
Among the increases, La Rioja (28.8%), Ceuta (23.9%), and Navarra (17.7%) stood out; while the most significant decreases in total registered sales occurred in Melilla (-26.3%), Canary Islands (-21.8%), Madrid (-7.7%), and Asturias (-7.4%).
In contrast, mortgages, including those for housing, increased for the fourteenth consecutive month, with 43,601 established in August, 11.5% more than in the same month of the previous year.
Mortgages constituted on all types of properties registered increases in all autonomous communities and cities except in three: the Canary Islands (-6.3%), Andalusia (-4.3%), and Asturias (-0.1%).
The largest increases, with variations exceeding 30%, occurred in Cantabria (56.9%), the Balearic Islands (50.2%), and Aragon (37.5%).
