The number of unsold homes nationwide was 161,972 in late February, down 721 or 0.4 percent from 162,693 a month earlier. It soared in November to December of last year, but began falling from January to February this year. In Seoul metropolitan area, the number decreased by 346 or 1.3 percent to 25,185 while it decreased by 375 or 0.3 percent to 136,787 in local cities and provinces.

The ministry said apartment trades are also on the increase. According to ministry data on the real transaction price of apartments registered in March, 37,398 apartments were registered last month, up 8,657 or 30.1 percent from 28,741 a month earlier, posting an increase for the second consecutive month to an all-time high since July (38,804) last year. In Seoul, a total 3,957 apartments were registered, up 31.5 percent from a month earlier.

Kim Sun-duk, head of Construction Industry Strategy Research, said, “The housing market is seeing an improvement compared to the end of last year, but the number of unsold homes decreased only slightly and apartment trades increased only in limited areas. Therefore, a fully-fledged recovery has yet to come.”

(englishnews@chosun.com )