Home sales fell 6.4% in June and have now been negative for

[account_disabled]

The sale and purchase of homes registered a decrease of 6.4% in June compared to the same month last year, up to a total of 53,999 operations, as reported by the National Institute of Statistics (INE). With this year-on-year decline, which does not show any variation with that registered in May, the sale and purchase of homes has had five months of negative rates.



Specifically, the sale and purchase of used homes fell by 9.7% in the sixth month of the year, totaling 43,532 operations, while transactions carried out on new construction increased by 10.7%, to 10,467 operations.



92.3% of the homes transferred by sale in June Cambodia Telegram Number Data were free homes and 7.7% were protected. In total, the purchase and sale of free homes fell by 6.2% year-on-year, to 49,852 transactions, while the purchase and sale of subsidized homes fell by 8.7%, to a total of 4,147 transactions.







For Beñat del Coso, spokesperson for idealista , he explains that “despite the year-on-year drop in the number of operations in June, home buyers have not withdrawn and continue to bet on the real estate market. The data at the moment do not confirm the announced crisis in the sector because demand remains strong, despite the frequent rate increases carried out by the ECB in recent months. This data, together with a sustained reduction in supply, is sustaining a rise in prices that, for the moment, is not stabilizing."



"In the last 12 months, which coincide with the change in ECB policies increasing financing costs, according to the INE, more than 634,000 homes were sold, which is 1% more than those sold in the previous 12 months, when the rates remained exceptionally cheap. At the same time, the supply of homes for sale continues to reduce, which generates tensions that explain the 7.2% year-on-year increase in prices according to the data we manage at idealista," highlights the spokesperson.



"This confirms that the impact of the rate increase on sales has been very limited, probably because there is a very relevant pool of demand with lower financial needs and that, in many cases, already owns another home to facilitate the operation. ", specifies.