Mortgagee listings on realestate.co.nz and trademe.co.nz have slumped by more than a third in the last 4 weeks, which was more than slide of a quarter in the same four weeks a year ago. Figures collected by interest.co.nz and charted below show mortgagee listings (as opposed to sales) have fallen a total of 34.3% in the last 4 weeks from the previous 4 weeks. At the same time a year ago the drop was 25.3%. Banks and agents may be reluctant to put a mortgagee listing on the market over the Christmas New Year break, given that a quick uninterrupted sale is preferred. There were 217 properties listed as mortgagee sales on realestate.co.nz this morning, down from 376 four weeks earlier. There were 222 properties listed on TradeMe, down from 292. Data on confirmed mortgagee sales from Terralink for October show 298 sales for the month, up from 174 in the same month a year ago, but down from the record high of 343 in September. They accounted for 5% of all sales in the month of October and 24% of the sales were of owner occupier. What's your view on why these numbers might be down?
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