Unsold Homes Nationwide Total 63,000 Units
79,631 Units Offered for Sale in July
As of the end of July, unsold homes nationwide totaled 63,087 units, a decrease of 5.0% (3,301 units) from the previous month. Unsold homes remaining after completion numbered 9,041 units, down 3.8% (358 units) from the previous month. The Seoul metropolitan area recorded 8,834 units, down 16.3% (1,725 units) from the previous month, while provincial areas recorded 54,253 units, down 2.8% (1,576 units) from the previous month. By size, unsold units larger than 85㎡ numbered 7,851, down 4.6% from the previous month, while those of 85㎡ or smaller numbered 55,236, down 5.0% from the previous month.
On a cumulative basis through July, housing permits nationwide totaled 207,278 units, down 29.9% from the same period a year earlier. Homes in the Seoul metropolitan area numbered 78,889 units, down 28.2% year-on-year, while provincial areas numbered 128,389 units, down 30.9% year-on-year. Apartments nationwide numbered 178,209 units, down 24.9% year-on-year, while non-apartment homes numbered 29,069 units, down 50.3% year-on-year.
On a cumulative basis through July, housing construction starts nationwide totaled 102,299 units, down 54.1% from the same period a year earlier. Homes in the Seoul metropolitan area numbered 53,968 units, down 53.7% year-on-year, while provincial areas numbered 48,331 units, down 54.6% year-on-year. Apartments nationwide numbered 77,091 units, down 54.0% year-on-year, while non-apartment homes numbered 25,208 units, down 54.5% year-on-year.
On a cumulative basis through July, multi-family housing units offered for sale nationwide totaled 79,631 units, down 44.4% from the same period a year earlier. Multi-family units in the Seoul metropolitan area numbered 44,692 units, down 31.7% year-on-year, while provincial areas numbered 34,939 units, down 55.0% year-on-year. General sales of multi-family units numbered 59,654, down 47.8% year-on-year; rental housing numbered 5,077 units, down 53.5% year-on-year; and units allocated to association members numbered 14,900, down 16.7% year-on-year.
On a cumulative basis through July, housing completions nationwide totaled 218,618 units, up 2.1% from the same period a year earlier. Homes in the Seoul metropolitan area numbered 119,619 units, up 2.0% year-on-year, while provincial areas numbered 98,999 units, up 2.1% year-on-year. Apartments nationwide numbered 176,625 units, up 8.8% year-on-year, while non-apartment homes numbered 41,993 units, down 19.1% year-on-year.
Housing sales transactions in July (based on reporting date) totaled 48,170 cases. This was down 8.4% from the previous month (June) and up 21.6% from the same month a year earlier. The Seoul metropolitan area (22,179 cases) was down 7.5% from the previous month and up 32.5% year-on-year, while provincial areas (25,991 cases) were down 9.1% from the previous month and up 13.7% year-on-year.