Fewer listings but house prices push higher in May - REINZ

Mon, 15 Jun 2020

The muted recovery in home sales in May reflected a shortage of new listings, which served to impact sales volumes but elevated prices, the latest Real Estate Institute of New Zealand numbers show. The 3,990 residential sales was 46.6 percent less than in May last year, reflecting marketing restrictions for the first 12 days of the trading period under the covid level 3 alert. The impacts of covid-19 lockdown were also evident in the overall number of properties available for sale, which institute numbers indicate dropped by almost a fift...

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