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House Sales Fell by 16% During the First Quarter of 2020 and by 20% in the Balearic Islands and Madrid

116,070 homes were sold during the first quarter, down by 16% compared to 2019. All regions recorded declines, according to data from the Ministry of Transport, Mobility and the Urban Agenda.

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116,070 homes were sold and purchased during the first quarter of 2020, which represents a drop of 16% compared to 2019, when the total figure was 138,374, according to provisional data about real estate transactions from the Ministry of Transport, Mobility and the Urban Agenda.

Transaction volumes returned to negative rates in the first quarter of 2020 after they closed the first quarter of 2019 with an interannual increase of 2.17%. They continued last year with a decline of 7.3% in the second quarter (149,600 sales), coinciding with the entry into force of the Mortgage Law; and a fall of 6.16% in the third quarter (123,687); before registering a positive growth rate again in the fourth quarter, when transaction volumes rose by 1.45%.

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