Home sales in Spain fallAugust 10th, 2012 - 11:59 am ICT by IANS
Madrid, Aug 10 (IANS/EFE) The volume of home sales in Spain fell last month to 25,405, a drop of 11.4 percent compared with July 2011, the National Statistics Institute said.
Sales have fallen for 16 consecutive months after rebounding slightly in 2010 from the 24.9 percent and 28.8 percent declines registered in the previous two years amid the bursting of Spain’s decade-long property bubble.
Home sales dropped by 17.7 percent in 2011.
Housing transactions averaged more than 80,000 a month during the boom years.
Some observers have suggested the possibility of an uptick in sales before year’s end, when existing tax breaks for home purchases and sales are due to expire.
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