Real estate recovery stalls

The average house price decreased with 0.3 percent last quarter compared to the previous quarter. The slight decline comes after three quarters of rising prices. Realtor Association NVM is not particularly worried about the decline and attributes it to stabilization. Compared to a year ago the prices are still nearly 4 percent higher. Sales continue to rise. In the months July, August and September NVM estate agents sold 29.015 homes - 28.9 percent more than the same period last year. As in previous quarters the housing market is rising especially in the big cities. In popular cities like Amsterdam, Utrecht, Leiden and Haarlem, the market is overheating, says NVM. There prices increase by up to 10 percent on an annual basis, and houses are sometimes sold above the asking price.