Analysis of the Increase in Housing Sales in April
Introduction
Housing sales in Spain showed a notable recovery in April, with a 24% year-on-year increase, reaching 53,091 transactions, the highest number for an April since 2008. This significant increase returns the real estate market to positive rates after a 19.3% drop in March, affected by the seasonality of Easter.
Market Rebound
The increase in April was driven by both new and used home sales. Transactions for new apartments rose by 31.7%, while used homes saw a 22.3% increase, marking a historic record with 42,442 transactions. This rebound indicates an organic recovery of the market, which seems to stabilize above 50,000 monthly operations.
Sector Outlook
Real estate experts, such as Francisco Iñareta from Idealista and María Matos from Fotocasa, agree that the market could continue improving in the coming months if there are no shocks. The volume of sales in the first four months of 2024 is almost identical to that of 2023, suggesting that this year could surpass the previous one in activity if the current trend continues.
New Construction Demand
Although the demand for new construction remains strong, there are concerns about insufficient supply, which could lead to price increases. The volume of new construction transactions is in line with the percentages of recent years, but the lack of sufficient supply to meet latent demand could be a long-term problem.
Real Estate Market Recovery
The real estate market in Costa Brava, and in Spain in general, shows signs of robust recovery, with positive expectations for the rest of the year. At La Casa Das Haus, we are committed to providing our clients with the best information and opportunities in this dynamic market.
