By Vera Sprothen
SYDNEY--New Zealand home prices rose by nearly 11% in October from a year earlier and sales were down 14%, data from the Real Estate Institute of New Zealand showed Monday.
REINZ said the national median home price in October was NZ$510,000, compared with NZ$460,000 a year earlier. House prices fell by 1% from NZ$515,000 in September.
The number of home sales fell by 9% to 6,727 in October compared to the previous month.
The days it took to sell a house, a gauge of underlying demand, deteriorated by one day in October compared to a year earlier. In October it took a median time of 32 days to sell a house in New Zealand.
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(END) Dow Jones Newswires
November13, 2016 15:56 ET (20:56 GMT)
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