Home sales in Spain soared 24.4% year-on-year in November 2021, reaching 49,895 operations, according to the latest data released by the National Institute of Statistics (INE). This is the highest figure in this month since 2007 (the main year of the housing bubble), when more than 56,000 sales were registered.
The year-on-year increase in November 2021 is the ninth consecutive positive rate recorded, following a 22.2% rise in October.
In the first eleven months (January-November) of 2021, the number of home sales in Spain rose by 34.7% compared to the same period of 2020. But in 2020 the real estate market was affected by the outbreak of the Covid-19 pandemic, which caused a lot of harm to the business.
In monthly terms (that is, compared to October 2021), home sales increased in Spain by 7.9%. In this case, it is the largest growth recorded in a month of November since 2017.
The year-on-year rise in home sales in November is mainly due to new homes, whose sales grew by 30.5%, to 10,341. In the case of used homes, sales increased by 22.9%, to 39,554 transactions.
Sales by region
According to the INE, 91.2% of the homes transferred by sale were free market homes (23.9% more year-on-year) and 8.8% corresponded to the category of public housing (29.4% more).
On the map, the Spanish regions that registered the greatest annual increases in the number of home sales in November were the Balearic Islands (70.8%), La Rioja (56.4%) and Cantabria (49.9%).
Only Navarre (-8.9%), Asturias (-3.8%) and Galicia (-1.3%) ended the month with negative rates.