New Zealand Houses Take Longer to Sell as Buyers Bide Their Time
- Median time to sell has risen after late-2023 decline
- House prices fell a second straight month in April, REINZ says
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New Zealand houses are taking longer to sell as high interest rates and a weak economy make buyers more selective.
The median time to sell a house was 43 days in April, up from 38 days in March, Real Estate Institute of New Zealand data showed Tuesday in Wellington. A three-month average to smooth volatility rose to 44 days in April after falling as low as 36 days in December.