WELLINGTON (Reuters) – New Zealand house prices fell in March as listings and stock levels stayed significantly higher than a year earlier, the Real Estate Institute of New Zealand (REINZ) said on Tuesday.
Seasonally adjusted median house prices fell 1.8% from February, but were up 2.8% from a year earlier, REINZ data showed. Seasonally adjusted national home sales fell 0.5% from February, but were up 26% from March 2023.
“This summer has seen a return to a more normal level of real estate market activity after a relatively slow and subdued
2023,” REINZ Chief Executive Jen Baird said in a statement.
(Reporting by Lucy Craymer; Editing by Shri Navaratnam)
