Monthly sales of secondhand houses down by 50 per cent yoy

I don’t think the government ever mentioned soft landing, but the VI’s and central bank did.

2662 sales per month, so a current rate of 32,000 annually. Goodbodys recently used a figure of 42,000 as the total second hand inventory, although daftwatch suggests it’s higher. So 1 year 4 months to clear second-hand inventory.

That’s worse than the US.
When are we going to see some figures for new house sales or is that a too closely guarded secret? If the figures are anything like the second hand figures then the CIF projections for house building for 2008 would appear genuine.

That’s very close to the 1 year 5 months we calculated using the IPW data