The number of homes sold in April, excluding social housing, rose by 16.8% compared to the same month last year, according to the latest figures from the National Institute of Statistics (INE).
The following chart shows how residential property transactions have risen every month this year, having fallen every month last year.
On a monthly basis, however, home sales fell by 9%, from 33,632 in March, to 30,659 in April. Sales have fallen in April in 3 out of the last 4 years, so the fall is likely due to seasonal factors.
Once again, resales were higher than new build sales, but only by a fraction. In a normal market resales should be significantly higher than resales. The problem today is financing. Banks are reluctant to lend money to people buying resale properties.
The following chart shows how sales break down between new builds and resales.
Once again, sales growth was not uniform around the country. Sales exploded by almost 90% in the Balearics, but fell 13% in Malaga province, home to the Costa del Sol.
Much of the market growth came from just a handful of regions (Balearics, Catalonia, Cantabria, and Madrid). It is possible that the figures are distorted by banks moving properties from one balance sheet to another.