2014 primary home sales volume predicted to stick below 2013's impressive levels

14,948 units may be too difficult to break.

According to Colliers International, the subdued market in the first three months of 2014 is likely to set the tone for the rest of the year.

The decline in private home prices for two successive quarters, in tandem with slower transaction activities in the primary and secondary sales market, shows that the multiple rounds of cooling measures, and particularly the TDSR, have finally begun to steer the private residential market towards greater stability.

Here's more from Colliers International:

In view of the continued enforcement of the cooling measures, the tentative recovery of the global economy, the longstanding concerns of potential interest rate increases and a mounting supply of homes, there appears to be little respite for the private residential property market, at least in the short term.

With demand for new homes largely satiated in 2012 and 2013 and buying exuberance subsided, primary home sales volume for the whole of 2014 is projected to stay below 2013’s level of 14,948 units.

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