New Zealand Houses Take Longer to Sell as Buyers Remain Cautious
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New Zealand houses are taking longer to sell as high finance costs and a weak economy make buyers more cautious.
The median time to sell a house was 50 days in August, up from 49 in July and 38 in March, Real Estate Institute of New Zealand data showed Friday in Wellington. A three-month average to smooth volatility rose to 49 days, which is the highest since April 2023.