Jusan-yeon "October Housing Market Outlook, 'Good' at Usual Levels"

[Asia Economy Reporter Ryu Taemin] The housing move-in market in October is expected to be similar to the average situation each year.

On the 14th, the Korea Housing Industry Research Institute (KHIRI) announced that the nationwide Housing Occupancy Situation Index (HOSI) forecast for October was 84.8, a slight decrease of 0.2 points from the previous month. HOSI is an indicator that comprehensively assesses the move-in conditions of apartment complexes that are about to be occupied or are currently being occupied, as judged by housing suppliers. A value above the baseline of 100 indicates favorable move-in conditions, while a value below suggests deterioration.

The index rose compared to the previous month in the metropolitan area (95.7, up 1.2 points) and provincial city-level areas (84.1, up 4.7 points). For provincial metropolitan cities, the index was 80.2, down 7.5 points from the previous month, showing a similar figure.

By region, all areas except Gyeonggi (103.0) and Chungnam (100.0) showed values below the baseline of 100, including Seoul (91.7), Incheon (92.3), Gangwon (90.0), Gwangju (87.5), Jeonnam (87.5), Daejeon (86.7), Gyeongbuk (86.7), Sejong (84.6), Jeonbuk (84.6), and Chungbuk (80.0).

The nationwide housing move-in market forecast has continued to decline from 101.4 in August to 85.0 in September and 84.8 in October. A KHIRI official stated, “Unlike the high expectations formed in the first half of the year, the nationwide move-in market has maintained the 80s for two consecutive months, adjusting to the usual level. Considering past trends in the move-in market, October is also expected to have favorable conditions.”