The housing market appears to be off to a slow start to summer so far.
The latest figures from property website Realestate.co.nz and the Real Estate Institute of New Zealand (REINZ) show a widening gap between the number of properties being newly listed for sale and the number selling.
The first graph below clearly shows the trend.
Back in June this year Realestate.co.nz received 6218 new listings of residential properties for sale, while the REINZ recorded 5629 sales in the same month.
That almost closed the gap between listings and sales with the number of sales being just 9.5% lower than the number of listings.
By August new listings began rising strongly, and by October had reached 9529, up 53% compared to June.
But the rise in new listings wasn't matched by a rise in sales, which remained largely flat over the same period.
In fact the 5619 sales recorded by the REINZ in October was 10 properties lower than in June, and 143 properties lower than in September.
As the result, the number of sales went from being 589 less than the number of listings in June, to 3910 less in October.
That is not a good place to be for what many in the real estate industry have been hoping would be a season of recovery for the market this summer.
Comparing asking and selling prices tells a similar if less spectacular story.
Realestate.co.nz measures average asking prices for its listings while the REINZ records median selling prices, so the two are not directly comparable, but it is the trends that are important.
Since June, Realestate.co.nz's average asking price has increased from $841,688 to $920,678 in October, up $79,990.
But the REINZ's median selling price has remained almost flat over the same period, rising marginally from $780,000 in June to $795,000 in October.
That has seen the gap between the two more than double, from $61,688 in June to $125,678 in October.
As with sales numbers, the pricing trends do not show the uplift many in the industry had been hoping for.
However it's still early days as far as the summer season goes and things may yet turn around.
But with only around three weeks left until the market eases off for the Christmas break, things will need to happen quickly if we are to see any sign of a recovery this year.
However if current trends continue, then we could see total stock levels rise, properties sitting on the market for longer, the return of the buyer's market and the inevitable downward pressure on prices that produces.
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