The end of tax credit deduction triggers increases in house purchases.

Housing sale transactions strongly increased year over year in August for the eighth consecutive month and even stronger so than in July, June and May. According to Tinsa the 5% drop in house prices has helped the recovery. Purchases and sales of properties increased by 29.6% in August compared to the same month last year with a total of 43,817 operations. The National Statistics Institute (INE) reported that 53.2% of sales were for new properties and 46.8% for second hand properties. Therefore, these transactions increased in August for the eighth consecutive month and stronger so than in July, June and May with an increase of 16.4%, 7% and 11.9% respectively. After 2 years of registered drops, the first increase came in January with an increase of 2.1%. Over the months (August to July), the sale of homes remained stable, while in the first eight months of the year an increase of 13.8% accumulated over the same period compared to 2009. Source: http://www.intereconomia.com/noticias-negocios/finanzas-personales/macro/fin-deduccion-vivienda-dispara-compraventa-casas