Spanish Home Purchases Had Annual Increase of 15.5% in February

Spanish home sales rose 15.5 percent in February from a year earlier as the country recovers from the worst recession in its democratic history.

Transactions fell 11 percent compared with the previous month, according to data compiled by the National Statistics Institute.

Spain has become one of the fastest-growing economies in the euro area as exports surge and investment rebounds more than two years after the European Union rescued its banking system. The country is poised to have the highest growth since 2007 this year.

Tinsa, Spain’s largest homes appraiser, said last month that home prices fell 3.6 percent in February from a year earlier, extending the drop since values peaked in 2007 to almost 43 percent.

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