Home sales down 26%

Only a headline total of 1,539 new private residential homes were sold in August.

OCBC Investment Research noted:

A headline total of 1,539 new private residential homes (including 118 EC units) were sold in Aug 12 - down 26% MoM.

Excluding EC and landed-units, units sold were similarly down 26% MoM but up 3% YoY to 1,383 units.

Units launched in Aug 12 dipped 38% MoM to 1,047 units, while the take-up rate increased to 132% from 110% in Jul 12.

Total inventory of launched and unsold units in the market fell 5% MoM to 6,536 units.