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Spain April house sales fall 29.7 pct y/y

Source: Reuters - Fri 10th Jun 2011

Spanish house sales fell by 29.7 percent in April year-on-year, according to data from the National Statistics Institute on Friday.

The number of houses sold was 24,100 in April.

On Wednesday, the public works ministry said house sales fell 30% in the first quarter from a year ago, after the removal of tax breaks at the end of 2010 and indicating the property slump is far from over.

Spain's housing market is continuing to adjust to the collapse of the construction sector from late 2007 that has seen house sales and prices fall steadily.

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