Madrid – Home sales in Spain fell 29.7 percent in April compared with the same month in 2010, according to data released Friday by the National Statistics Institute, or INE.
The 24,100 transactions registered in April represent the lowest one-month total since 2007, when the INE began keeping track of housing sales.
The April statistics come two days after the release of figures showing that housing sales were down 30.4 percent in the first quarter of 2011 compared with the January-March period last year.
Spanish home sales spiked by 14.2 percent in the fourth quarter of 2010, mainly in reaction to the government's announcement that the exemption from sales tax on housing purchases for people earning more than 24,000 euros ($35,000) a year would end on Jan. 1.
Unemployment recently climbed above 21 percent as the Spanish economy struggles to emerge from the dual shock of the global recession and the bursting of a decade-long property bubble.