Home sale-purchase down by 33% in last 12 months
09.06.2009
Home sales has hit bottom in Spain, with a total of 104,703 transactions, equal to a 16.5% decrease in the first quarter of the year when compared to the preceding quarter, according to data published by the country's Ministry of housing today.
In the last twelve months the purchase and sale of homes diminished by 33% with respect to the previous year, the lowest volume in the last five years. The decrease of transactions has primarily affected the market for new homes, whose sales have fallen 21.3% in the fist quarter of the year, two times lower than the sale of homes previously lived in, which have marked a contraction of 9.4%.
The data marks an inversion in the trend signed by the housing market burst in 2007 - until last January homes which had been previously lived in had registered the highest decrease in purchases.
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