Home sales plummet in the Canary Islands for the second consecutive month

The sale of homes again registered negative year-on-year rates in June, falling by 6.1%, with just over 50,000 homes registered in the Land Registry, and the Canary Islands, with a decrease of 20.1%, registered the largest drop, according to data released this Monday by the INE. Also in May the fall was resounding, reaching

In the first semester, the number of sales has decreased by 4.6% compared to the same period of 2023 and followed the downward trend of May (21.5% less).

So far this year, the sale of homes fell by 2.1% in January; in February it rose by 5.8% after twelve months of decline following the rise in interest rates; in March it fell by 19.3%; in April it soared by 24%; in May, the aforementioned 21.5% less and the new fall in June, of 6.1%.

In this first month of summer, 20.4% of the homes transferred by sale were new (10,209 units) and 79.6% were used (39,890 houses), with a rebound in the number of transactions on new homes of 0.9% and a decrease in that of used homes of 7.8%.

By autonomous communities, only Galicia (10%), Murcia (6%) and La Rioja (0.3%) registered increases in home purchases in year-on-year terms in relation to June 2023, while the largest decreases occurred in the Canary Islands (20.1%), the Balearic Islands (17.6%) and Aragon (14.2%).

In Catalonia the decrease reached 10.8% while in Madrid there was a year-on-year decrease in June of 0.6%.

According to the title of acquisition, the transfer of properties by inheritance decreased by 10.3% in June, to 39,166 properties, while donations decreased by 1% in year-on-year terms.