Real estate sales rising to levels not seen since the end of the tax relief in 2012
Home sales ended May with an average rise of 23.6%, to 36,425 units, according to data from the National Statistics Institute. This is a level not seen since January 2013
Compared to the previous month, sales of homes rose 3.5%. 36,425 transmissions in May, a figure not seen since January 2013, when 39,920 homes were sold for the purpose of tax relief for home purchase in December 2012.
As is usual, used home sales was much higher than the new in May. Specifically, 29,422 homes for sale, 26.7% more than a year ago were sold, while only 7,003 new homes, 12% more than a year ago were transmitted. This is because the INE for new housing is considered used at the time accumulating one year old unsold. In addition, the new properties that are selling banks are also considered secondhand.
Where more homes have been sold are in Andalusia (12,630), Catalonia (10,966) and Valencia (10,009).
The information has been collected from the National Statistics Institute