Property market losers start to track up, led by apartment sales

More than a quarter of all apartment sales were made at a loss. (Image: Depositphotos)

Wed, 24 May 2023

The number of sellers who absorbed a loss on the sale of their homes has climbed to 6.1% of resales during the first quarter of this year, the highest level since 2016.Data from property analytics firm CoreLogic showed loss-making deals tallied to $43.2 million, at a median loss of $60,000. That was dramatically higher for apartment sales, where more than 28% of all transactions this year have come in at a loss – at a median of $67,500 less than paid. CoreLogic chief economist Kelvin Davidson said the bulk of those sales, 68, ha...

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