Housing Prices Down 5%, Sales Drop

Resale prices for existing homes in the Netherlands dropped 4.7% in November, compared to a year earlier. New data released by the national statistics office, CBS, show existing home sale prices down 20.5% versus the peak prices seen in August 2008.

The pricing drop last month is 17.5% percent worse than October's decrease. Housing prices are now equivalent to those seen in late 2002, the CBS said.

The number of homes sold through November is also down 5.3 percent versus the same period in 2012. 94,631 homes have been sold in the first 11 months of the year.