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 Thursday.

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.

Spain's ICC consumer confidence index dipped in July to its lowest level since the monthly survey was launched, the official Center for Sociological Research said last Friday.

The ICC, with a scale of 0 to 200, came in last month at 37.6 points, down 13 points from June and 36 points from July 2011.

Any reading below 100 points is considered negative.

More than 60 percent of those surveyed said their families' finances had deteriorated over the previous six months, and 48.4 percent expect things to get worse in the next six months.

Spain's jobless rate stands at 24.6 percent overall and more than 53 percent among people under 25. EFE