Buying Activity on Yekaterinburg Housing Market Goes down 10%, Ural Real Estate Chamber Says

15 March 2013 (09:33)

March 15, 2013. The buying activity on the local housing market is now 10% lower than a year earlier, and experts report the market is beginning to ‘cool’, Ural Real Estate Chamber’s press officer reports.

At the same time, the sellers have grown more active: the supply keeps rising by 2% a week on average. The number of apartments added to the Chamber’s ‘for sale’ database is now 19% greater than in January 2013. In absolute terms, this means the supply has risen from 6,800 to 8,100 apartments, so the customers now have 1,300 more apartments to choose from.

As a result, prices on the existing homes market are now growing more slowly. This trend is not very pronounced at the moment, but it will become quite noticeable very soon, the Chamber’s analysts claim. Consequently, the market will grow stable within the next six months, and prices will perhaps change a little in certain market segments.

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