Home sales and purchases are gaining traction as the months go by. According to INE data, 47,332 transactions were registered in the Property Registries in March, 9.6% more than in February and 32.4% more year-on-year.
Thanks to this upturn, the annual balance of sales enters positive territory and grows by 1.9%, while the March figure is the highest since July 2019.
The agency’s statistics once again have new construction as the protagonist. And, with 10,149 sales, in March it renews its maximums since the summer of 2014, which it already set last month. In the third month, they have accounted for almost 22% of sales.
In fact, the total number of transactions is growing thanks to the momentum of new construction properties, whose sales have soared in March by 52.6% year-on-year and accumulated in the first three months of the year a rise of 18.5%. In contrast, sales of second-hand homes, although improving, fell by 2% year-on-year between January and March.
This improvement reflected in the INE statistics is in addition to that shown by public notaries, who state that in March sales and mortgage signings shot up by more than 70% year-on-year in both cases, despite the fact that house prices continue to fall. Specifically, transactions have recorded their second-best monthly figure since 2012, while mortgage loans have reached their highest level since 2010.
The INE places the Valencian Community (153), La Rioja (152) and Cantabria (145) as the three communities with the highest number of transfers per 100,000 inhabitants, although in absolute terms the most prominent are Andalusia (9,043), Catalonia (8,105) and Madrid (7,496).
The Madrid region, in fact, recorded the highest year-on-year increase in the number of property sales and purchases (59.2%), followed by Cantabria (56.9%) and La Rioja (55.6%). The only region with a negative variation rate is the Balearic Islands (-3%), while the Canary Islands (2.7%) and Murcia (14%) recorded the lowest increases. Catalonia also grew above the national average (with a rise of more than 34%), while Andalusia and the Valencian Community remain below the average.