NZ data: house prices fall m/m in May, still up y/y

Real estate Institute of New Zealand (REINZ) May 2020 house prices

• House price index -0.5% m/m and +7.9% y/y
• s/a median house prices -8% m/m, +6.9% y/y
• number of sales recovered to 3990 in May, from April's lock down number of 1371
• number of sales though is still down y/y, a whopping 46.6%
• time to sell a house is 58 days, highest in 9 years

Shut down impacts weighing heavily on the results, of course.