Madrid (EFE).- The sale of homes fell again in May by 6.4% in the interannual rate to 56,137 operations, chaining four consecutive negative months in a context marked by the rise in interest rates to curb inflation and the consequent increase in financing.
Despite this drop, compared to the previous month – when the lowest number of operations in the last two years was registered – the sale of homes shot up 29.6%, according to statistics published this Friday by the National Institute of Statistics (INE).
After closing December with a drop of more than 10%, the falls in sales were interrupted in January by registering a rise of 6.6%. In February they fell again in the same proportion, a trend that continued in March with an adjustment of 5.7%, which was accentuated in April with a cut of 8.1%, marking its lowest figure in two years, and which followed in May.
The purchase of new housing rises, but the used one continues to fall
In May, second-hand sales, the most numerous, representing more than 81% of the total, continued to decline and registered a drop of 8.6% compared to the same month in 2022 to record 45,479 transactions.
However, new home sales increased by 4.1% year-on-year to 10,658 operations.
Thus, while used housing transactions accumulate four months of decline, those of new housing register another rise after the one registered in January.
It shoots up compared to the previous month
Compared to April, both experienced strong growth, 29.7% in the case of second-hand housing and 29.1% in the new one.
So far this year, new home sales accumulate a fall of 2.4%, which rises to 4.5% in the case of used ones.
More than 92% of the sales registered in May were free housing, 51,939 units, 5.8% less than in the same month of the previous year. For its part, subsidized housing added 4,198 transactions, 13.4% less than in 2022.
Compared to the previous month, both free and subsidized housing experienced notable growth, of 30.5% and 20%, respectively.
The number of home sales carried out between individuals in May was 38,536, which is 7% less than in the same month of 2022.
Falls in 12 communities with La Rioja and Madrid in front
By autonomous communities, in May interannual falls were registered in 12 of them, the greatest decreases being those of La Rioja (-37%); Madrid (-20.5%); Canary Islands (-19.2%); Balearic Islands (-17.1%); Basque Country (-18.5) or Galicia (-10.7%).
For their part, housing transactions grew in five communities, with Cantabria (21.1%), Asturias (8.6%) and Castilla y León (7.9%), leading the increases.
Registered farms fell almost 5.4%
In May, 200,906 farms were registered in the property records, 5.4% less than in the same month of the previous year, but 26.4% more than in April.
The biggest decreases corresponded to donations, which fell by 10.3% to 4,596 operations. Next came sales, which totaled 109,714, 7% less.
Other operations (land concentrations, horizontal divisions, daciones en pago, foreclosures or judicial adjudications, among others) totaled 38,748 in May, 9.6% less.
On the contrary, swaps increased 19% to 677 and inheritances 2.8% to 47,171 operations.