Home sales fell 11.4% year-on-year in July and mortgages plummeted 18.8%

This is clear from the Real Estate Registry Statistics published today by the College of Registrars, which shows that in July 5,800 fewer home sales were closed than a year before.

The biggest falls in activity occurred in Galicia (-19.9%), the Canary Islands (-18.2%), Madrid (-16.1%), Catalonia (-14.8%), Castilla y León (- 14.3%), La Rioja (-12.8%), Navarra (-12.4%) and Andalusia (-12.6%).

With decreases below the average (11.4%) were: Balearic Islands (11.3%), Castilla_la Mancha (-9.2%), Cantabria (-8.5%), Valencian Community (-6.8% ), Basque Country (-6%), Aragon (-5.5%) and Murcia (-0.1%).

On the other hand, Asturias (1.6%) and Extremadura (0.1%) were the only communities in which operations increased.

For its part, the number of total sales and purchases (includes all types of properties) decreased in July by 8.8% compared to the same month of the previous year, reaching 87,674, thus chaining eight consecutive months of decreases.

The evolution of the number of mortgages established in recent months also shows a negative trend, with double-digit falls. In July, 36,356 mortgages were constituted on the total number of properties, 19.7% less than in the same month of 2022.

Regarding mortgages on homes, these totaled 27,693 in the seventh month of the year, with a year-on-year decline of 18.8%.

By territory, the annual evolution of total sales showed generalized interannual decreases, especially in Galicia (-17.8%), Navarra (-17.4%) and Madrid (-13.1%). Only in Murcia and Asturias were sales increases registered in July, with increases of 3% and 2.1%, respectively.

In relation to the total mortgages constituted, the greatest year-on-year declines occurred in Cantabria (-38.1%), Galicia (-36.3%), La Rioja (-28.8%), Castilla-La Mancha (-27 .4%) and Catalonia (-24.2%). The only interannual increase was experienced by the Balearic Islands, with an increase of 13.6%.