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The Fall In Home Sales In May Reflects The Effects Of Spain’s State Of Alarm

Bankia Estudios | Property transactions in the Spanish market have plummeted. Home sales fell sharply in May: only 22,394 transactions, the worst month of May in the available series since 2007, and less than half of the transactions recorded a year ago (48,351 in May 2019). In any event, the deterioration reflects the logical effects of the sector closing down due to the state of alarm. In the second half of the year, the reactivation of the economy, the labour market and, above all, family income will determine the behaviour of demand.