The tensions between supply and demand in the property sale market are unmistakable. The availability of housing has plummeted by 49% in the province of Las Palmas since its peak at the end of the fourth quarter of 2016.

On a national level, the reduction stands at 39% since the high recorded in the second quarter of 2019, according to a study released by Idealista.

Provincial Variations in Supply

Regionally, the most significant decline has occurred in Bizkaia and Álava, with a drop of 70%, followed by Segovia (-67%), Guadalajara (-66%), Cantabria (-66%), Navarra (-65%), Valencia, and Huesca (-64% in both cases).

In the Community of Madrid, the reduction is 60%, while in the province of Barcelona, it has decreased by 34%.

Meanwhile, Alicante and Jaén stand out as the only provinces with a decline of less than 20%, recording -17% in Alicante and -19% in Jaén. Cáceres follows with a reduction of 20%, with Málaga (-27%), Murcia (-31%), and Granada (-32%) next.

Impacts on City Housing Stocks

In almost all provincial capitals (45 out of 52), the supply has halved or more, with Valencia experiencing the most drastic reduction: 78%.

This is followed by Segovia and A Coruña (both at -77%), and Cuenca, Santander, and Bilbao (-75% in each of these cities). Other significant declines include Santa Cruz de Tenerife (-74%), Ávila (-74%), Vitoria (-73%), Pontevedra (-73%), Guadalajara (-72%), and Toledo, Salamanca, Zaragoza, and Pamplona (-71% each).