The Real Estate Institute of New Zealand (REINZ) has released its June survey of licensed real estate agents. Below are some of the key indicators presented in the survey. First, a net 65% of responding real estate agents said they are seeing fewer people attending auctions. In a similar vein, a net 60% of agents have reported seeing fewer people at open homes since November last year:A record 70% of real estate agents are seeing prices decline in their areas of operation. If this guidance comes to fruition, then housing sentiment will collapse further and prices will crash.

Source: Stuff June 08, 2022 17:29 UTC