House-hunters face spring sale shortage in market slump
WOULD-BE home buyers hoping to snag a bargain could face a shortage of options during the usually busy spring sales season as owners try to ride out a price slump. Auction clearance rates have rebounded from recent multi-year lows, rising to a preliminary figure of just over 55 per cent in the past week, according to Cotality data released on Sunday. The share of successful sales reached an 11-week high, although it remained well below the decade average of 68 per cent. Low auction clearance rates generally point to falling property prices and a weak sales market. Cotality researc