South Korea Home Sales Slump in January as Unsold Units Pile Up
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New home sales in South Korea plunged 46.2% in January from a year earlier to 7,440, adding to the nation’s stock of unsold properties, according to the Ministry of Land, Infrastructure and Transport.
Transactions in the metropolitan area tumbled 54.2% to 3,617, the ministry said Friday. The number of unsold houses climbed for a third month to 72,624 units at the end of January, up 3.5% from a month earlier.