Q2 2026 housing numbers just published by the notaries

Sales have eased from last year’s exceptional levels, but prices continue to hit new highs. The latest figures suggest the market is becoming less frenetic, whilst remaining favourable for most vendors.

The Spanish notaries have just published their Q2 housing market figures, giving us the first clear picture of how the market performed in the first half of 2026. The headline is that sales are easing after last year’s record-breaking performance, but prices are still rising strongly. In other words, the market is cooling down, but only in terms of transactions, not values.

Sales cool after a record year

The notaries recorded 181,206 home sales in Q2, down 9% on the same quarter last year. That follows a 7% decline in Q1, taking first-half sales to 353,237 transactions, around 8% below the exceptionally strong first half of 2025.

On the face of it, that looks like a meaningful slowdown. However, last year was one of the strongest on record, so comparisons were always going to be demanding. A better way to judge the underlying trend is the rolling four-quarter total (chart above), which smooths out seasonal fluctuations.

On that measure, annual sales slipped to 726,349 transactions, down just 2% on a year earlier. That suggests the market is losing momentum rather than falling off a cliff. By historical standards, activity remains high, just no longer at the exceptional levels seen last year.

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Posted by Mark Stücklin in Property - August 28, 2026