Home Sales Decline More than 6 Percent in June

The sale and purchase of homes registered a 6.1% decrease in June compared to the same month in 2023, reaching a total of 50,099 transactions, according to the figures released by the National Institute of Statistics (INE) this week.

With the decline in June, home sales continue to register negative rates for the second consecutive month, after the 21.5% drop in May.

The year-on-year decline in home sales in June was mainly due to the drop in transactions on used homes, which fell by 7.8% year-on-year to 39,890 transactions. However, transactions on new homes increased by 0.9% to 10,209.

On a monthly basis (June over May), home sales rose by 13.8%, while in the first six months of 2024 they fell by 4.5%.