As low virtually as 2008 levels
About 540 houses sold in Wellington region in May. Boom was about 1100 a month 3 or 4 years ago.
And June felt like lower volumes of sales to me. Figures are not out yet. Felt like 450 I will guess.
I would like to blame the weather. It may however be the market is weakening.
The odd thing is that inventory of houses for sale is low and falling, and days to sell are down about 30% on a year ago. And median price down so little it dosnt really count ( though they are down 2 months in a row) Gives weight to winter blues rather than change in market.
In context , the lowest I have ever known was 1992 ( yes, I can remember that far back!) I recall a month of 380 sales and let me tell you, that was tough! I recall a newspaper headline " NZ to become Bananna Republic?" Well we didn't.
