Buyers market: Property inventory up 30% in August

Summarised by Centrist

REINZ reports a 30% year-on-year increase in property inventory for August, with 29,579 homes on the market, giving buyers more options. Median days to sell hit 50, the highest since 2008, while the national median price fell by $5,000 to $765,000. REINZ CEO Jen Baird noted growing optimism among vendors and buyers, but cautioned, “It would be an overstatement to say that we are at a turning point in the market.”

Read more over at interest.co.nz