Sharp drop in New Home Sale! Lowest level in 5 - TopicsExpress

Sharp drop in New Home Sale! Lowest level in 5 years. Developers private home sales shrank to 259 units (excluding executive condominiums, or ECs) in December 2013 - a big drop from 1,271 units in November and 1,410 units in December 2012. Though the figure - the lowest since January 2009 (108 units) - was worse than market expectations, no panic buttons have been pressed. URAs data yesterday also shows that developers moved 74 EC units last month - against 487 in November and 849 in December 2012. For the full year, sales of the public-private housing hybrid totalled 3,596 units - about 20 per cent lower than the 4,499 in 2012. Nevertheless, there was a filtering of buying demand from the mass market to the mid and higher-tiered segments in Rest of Central Region and Core Central Region. BT and ST 16 Jan 2014 Home sales dive on dearth of launches businesstimes.sg/premium/top-stories/home-sales-dive-dearth-launches-20140116

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