Home sales rebounded 15% in its best November in 17 years.

PUBLISHED ON

Enero 20, 2025

CATEGORY

Real Estate

Home sales rose by 15% in November. With 54,299 operations, the statistic signs its best penultimate month of the year of the last 17, since 2007, when they exceeded 56,000 sales and purchases.

With the November advance reported on Monday by the National Statistics Institute (INE), sales and purchases chained five months of year-on-year increases after July, August, September and October rose by 19%, 0.9%, 41.5% and 51.3%, respectively.

The year-on-year increase in home sales and purchases in November 2024 was the result of both the upturn in transactions on new apartments, which advanced 37.4% year-on-year to 12,328 transactions, and those on used homes, which grew by 9.8% to 41,971 transactions.

With respect to October, home sales and purchases decreased by 21.8%, while in the first eleven months of 2024 they increased by 8.1%, with advances of 20.5% in the case of new homes and 5.3% in the case of used homes.

2024 improves the volume of 2023

Francisco Iñareta, spokesman for idealista, explains that “cheaper financing and the prospect that prices will not fall due to the lack of available supply, continue to push many families to buy”, a trend that, according to the expert, will continue in the coming months as “rates will remain low and demand will remain very active, which will continue to increase the tension in prices”.

November's data confirms that 2024 is an improvement on 2023 volume. Specifically, 591,582 sales and purchases have been signed since January, which not only improves on the previous year's figure, but puts it at just 2.5% of 2022 sales and purchases. “These figures indicate that a golden age for home sales and purchases is beginning,” says María Matos, director of research at Fotocasa.

For Matos, “the expected trend is that sales and purchases will exceed 55,000 signatures in the last month of the year and that 2024 will close close close to 645,000 operations”, which will make 2024 the second best year since 2007, after the 650,000 sales and purchases registered in 2022.