National Housing Sales Sentiment Declines for Two Consecutive Months... Seoul Also Shifts to Stable Phase

National housing sales sentiment declined for the second consecutive month. Seoul, which was in an upward phase, also shifted to a stable phase.

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According to the 'November Real Estate Market Consumer Sentiment Survey' released on the 15th by the Real Estate Market Research Center of the Korea Research Institute for Human Settlements, the nationwide housing sales market consumer sentiment index dropped 9.2 points (p) from 111.1 last month to 101.9, maintaining a stable phase. This index had continuously risen from January (91.5) to September this year but fell in October for the first time in 10 months and declined for two consecutive months thereafter.

The Korea Research Institute for Human Settlements classifies the housing sales consumer sentiment index as a declining phase if below 95, a stable phase if between 95 and less than 115, and an upward phase if 115 or above.

All regions including the metropolitan area (112.3→103.0), non-metropolitan areas (109.7→100.9), Incheon (108.6→101.5), and Gyeonggi (110.9→102.6) saw decreases, and Seoul (116.0→103.0), which was in an upward phase in October, also entered a stable phase.

The Daegu housing sales market index fell from 105.0 last month to 91.3, and Jeju dropped from 107.0 to 89.8, entering a declining phase. Other regions such as Gyeongbuk (109.2→97.6), Jeonbuk (105.9→98.6), and Busan (105.2→99.5) also experienced further deterioration in their indices.

The nationwide housing jeonse market consumer sentiment index decreased from 98.7 to 94.8, entering a declining phase. The metropolitan area (100.1→95.3) showed a stable phase, while non-metropolitan areas (96.8→94.3) were in a declining phase. Seoul (104.7→98.9) was stable, whereas Incheon (95.0→90.6) and Gyeonggi (98.6→94.3) showed declining phases.

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