Housing market remains mired in a record slow down as dampened market sentiment amid the economic downturn and rising mortgage rates. The number of residential transactions in the last quarter of 2022 dived 28% q-o-q to 8,386 cases, hit a 27-quarter low since Q2 2016. For 2022 full year, only 45,050 deals registered, a decrease of 39% lower compared with a year earlier and nosedived to a new low since records started in 1997.
Last quarter, the number of new home sales tumbled 69% over the third quarter 2022 to only 1,284 deals as developers put new launches on held under the sluggish property market…….
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