February home sales fell 27.6% y/y compared to -23.2% in Jan. New home sales fell 37.4% y/y reports Spain’s Instituto Nacional de Estadistica.
The property market is still very depressed in Spain and is showing no signs that it’s going to improve anytime soon. Bad property loans and portfolios could be something we need to monitor Spanish banks for over the AQR and stress tests. They’ve shifted a lot off the books but I’m sure there’s plenty more lurking around.
Spanish home sales 09 04 2014
