Looking for signs of a housing resurgence

One should never read too much into one month’s worth of data, but there were enough signs of life in the latest figures from the Real Estate Institute this week to pique our interest. Seasonally adjusted sales volumes had fallen in five of the last six months, but lifted 4.4% from February. The monthly increase was largely due to an 11% jump in sales in Auckland, although Waikato/Bay of Plenty/Gisborne, Canterbury/Westland, Wellington, and Manawatu/Wanganui also made significant contributions to the rise.