Home sales decline again in October 2023: What awaits us in 2024?

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The real estate sector in  has been marked by a continuous decline in home sales that has been dragging on since June. In a decrease of 11.1% was recorded compared to the same month in , with a total of 45,903 transmissions. What predictions can be made for 2024?


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How many home sales have occurred?
According to the latest report from the National Statistics Institute (INE), 45,903 home sales were made in the month of October , 11.1% less than the same month last year. Despite this enormous drop, it is worth noting that in October there were 1,817 more sales than in the previous month , September, which represents an increase Switzerland Email List of 4.1%. These figures show us that, although slowly and gradually, it seems that the real estate market is beginning to recover from the fall it had in the summer.

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Purchase and sale of housing according to protection and status
Of the total sales in October 2023, 92.8% of the homes are free and 7.2% are protected . Regarding the annual rate, these percentages represent a decrease of 10.4% in free ones and 19% in protected ones.

For its part, the purchase and sale of new homes represents 19.3% , which increased by 0.8% compared to the previous year, and that of second-hand homes is 80.7% , a figure that has decreased by 13.5%. compared to October 2022.

This has been the sale and purchase of housing in the autonomous communities

At the same time, it is worth highlighting that these results change if we look at the number of home sales per hundred thousand inhabitants. In this section, Murcia is ranked first with 150, Andalusia , which is still at the top, with 130 and La Rioja with 122.


Regarding the annual variation rate, all the autonomous communities reflect it negatively, except for six: Navarra (10.1%), Extremadura (6.7%), Principality of Asturias (3.4%), Castilla -La Mancha (3%), Murcia (2.5%) and Galicia (1.3%).

For their part, the Balearic Islands (–29.8%), Cantabria (–25.4%) and the Canary Islands (–20.5%) registered the greatest decreases.



Annual variation in home sales October 2023
Annual variation rate of the autonomous communities in October 2023.
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Map: Housfy | Own elaborationSource: National Institute of StatisticsCreated with Datawrapper
Situation of home sales in 2023
As we said at the beginning of the article, the figures that October leaves us are still somewhat worrying, but it always depends on what period we make the comparison with.

As we have seen, the number of home sales has increased compared to September , however, compared to October 2022, in the same month the home sales in 2023 have decreased. It should be noted that it has done so with a lower annual variation rate than in September, that is, comparing the months of September 2022 and 2023, there was a much greater decrease than in the October comparison in both years.