Buying and selling houses it climbed 41.5% in Septemberits strongest increase since August 2021, in a context now marked by downward trajectory of interest rates which makes mortgage financing cheaper, according to data published this Monday by the National Institute of Statistics (INE).
In September, 61,887 transactions were recorded, the highest number recorded in a single month in over 17 years, specifically since July 2007. With this increase, the buying and selling of homes increased for three consecutive months after the increase of 19.4% in July and the increase of 0.9% in August.
Additionally, buying and selling homes increased by 25.1% in September compared to August, a month of less activity in the real estate market, and so far this year this indicator returns to positive territory with an increase of 3.1%.
Record sales of new homes in 20 years
In September, sales of new housing is the one that has increased the mostA 54.9% over one yearits largest increase since June 2021. In this sense, 12,531 units were counted, or more than 20% of total operations, and the highest figure for more than 20 years (since January 2014). As a result, new construction has increased for four consecutive months.
For their part, transactions second hand housewhich remain the most numerous with almost 80% of the total, experienced a 38.4% increase up to 49,356 units, and few have been recorded since May 2022.
By housing regime, free added 57,179 transactions in September, or more than 92% of the total, and an increase of 41.3% was recorded in the interannual rate. In the case of the protected company, sales increased by 43.6% to 4,708 operations.
Ups and downs throughout the year
Throughout 2024, the sale and purchase of homes was marked by rises and falls in an environment which was initially impacted by the rise in interest rates from the European Central Bank (ECB) to moderate inflation, the Easter effect and later, since June, due to the beginning of the end of the cycle of monetary austerity and rate cuts.
Thus, in January, sales fell by 2.1%; in February, it increased by 5.8% after twelve months of decline; in March it fell 19.3%; in April, it climbed 24%; In May, it fell another 21.5%; In June, it moderated this decline to 6.1%; In July, it increased by another 19.4%; In August it eased the rise to a modest 0.9%, and in September it increased to 41.5%.
Compared to the previous month, housing sales rose 25.1% in September. Remember that in August operations increased by 0.9%. New and used housing showed monthly increases of 26.2% and 24.9%, respectively.
By regime, the protected housing It is the one that increased its operations the most compared to August, by 31.8%, while free trade increased by 24.6%.
They are back on positive ground so far this year
Since the start of the year, sales have returned to positive territory with Increase of 3.1% which was fundamentally driven by new housing, which increased by 12%, while used housing increased by 1%.
By scheme, free housing has increased by 3.5% since January, although sheltered housing saw a decline of 2.3% in the first nine months of the year.
Double-digit increases in all communities
Sales increased in September in all autonomous communities, with the highest increases in Extremadura (79.3%); Basque Country (67.4%) and Asturias (57.3%). For their part, Navarra (18%), the Balearic Islands (18.5%) and Murcia (32.2%) recorded the lowest growth.
Among the major markets, sales they increased by 52% in MadridA 33.8% in Catalonia or 41.5% in the Valencian Community.
In September, 195,480 properties were registered in the land registers, 27.3% more than the same month of the previous year.
