New Private Home Sales Slump 42% in June

Sales of new private homes nearly halved last month from May, extending their slide as developers refrained from launching new projects during the June school holidays and as on-going housing loan curbs added to the drag on performance.

Point to ponder: Sales of new private homes slump 42% from May showing a reduction in demand of new private homes and will this trigger an adjustment to the selling price by the developers?