Real estate sales count up 12.2%, but pricing still soft

Total housing inventory was still down 1.5% year-on-year at 28,014. (Image: BusinessDesk)

Wed, 13 Dec 2023

The number of house sales bumped up by an annual 12.2% last month with 6,422 transactions, reflecting a continued but "slow and steady" improvement in market conditions.November's data from the Real Estate Institute of NZ (Reinz) shows total housing inventory still down 1.5% year-on-year at 28,014, although new listings were up 12.4% on the prior month, at 10,185.The Reinz house price index – reflecting the house price inflation rate – remained static, down by 0.2% with the national median price slipping to $...

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