The market is holding back. Although only a little. When analyzing the dynamics during the last half of 2022 (July-December) and the first half of 2023 (January-June), we see that the number of second-hand home sales has fallen by 7,406.
Even with this clear downward trend, the total number of home sales in this period was higher than the previous 12 months, that is, from July 2021 to June 2022, when 9,326 fewer second-hand homes were registered.
During the second half of 2022 and the first half of 2023, the provinces of Madrid and Barcelona stand out for their greatest activity in the purchase and sale of second-hand homes. Specifically, there were 59,874 in the Community of Madrid and 53,544 in Catalonia.
Apart from these two large population centers, the market was active in other provinces such as Alacant (44,731 second-hand homes), ahead of Valencia (33,761); and Málaga (31,037), ahead of Seville (19,388).
There were not few, either, sales in the Region of Murcia (18,724).
Of the last year analyzed, September was the month with the most purchases and sales of second-hand homes (47,279) and August the following (47,206). Traditionally, September usually means a rebound in the real estate market, just like months like January or May.
If January and May 2023 have not surpassed last September, it is due to the changes in the trends that we have documented since mid-2022. It is largely due to the increases in interest rates of the European Central Bank, the restrictions of financial entities when granting financing and the tensions in housing prices in Spain and, especially, in other places in Europe and the world.
While waiting for what happens in September 2023 with the measures to control inflation by those responsible for monetary policy in the eurozone, experts in the real estate sector on the Housfy platform trust that the market should reactivate towards the last quarter of the year and recover throughout 2024, without major abruptness.
During this period, between 2022 and 2023, sales of new construction homes were a total of 116,160, a few less than during the same months between 2021 and 2022, when 119,468 were registered.
The dynamics are similar. Madrid is the community with the highest number of new construction developments sold (17,839), followed by Barcelona (10,816).
This time there were a few more in Malaga (7,361) than in Alacant (7,183). In Valencia there were 5,348.
In Almería (4,253) and in Cádiz (3,928) there were more than in Seville (3,884).
In the Balearic Islands there were 3,189, less than the total in the Canary Islands (5,714), distributed between the provinces of Las Palmas (3,141) and Santa Cruz de Tenerife (2,573).
