Korea's home sales rise 7.4% on-year in Nov.

South Korea's home transactions rose 7.4 percent in November from a year earlier amid a recovering trend in the local real estate market, the government said Wednesday.
  

The number of housing purchase transactions reached 97,813 last month, compared with 91,050 tallied the previous year, according to the Ministry of Land, Infrastructure and Transport.
  

The November figure, however, fell 8 percent from 106,274 a month earlier.
  

For the first 11 months of the year, home transactions came in at 1.1 million, up 21 percent from a year ago, the ministry said.
  

The housing sales have been on a roll since the beginning of the year on the back of the government-led stimulus, with the monthly on-year growth hitting a record high of 29.3 percent in April.
  

"In November, home transactions declined from a month earlier due to seasonal factors," the ministry said, referring to the fact that November and December are regarded as the off-peak season, compared with April and May.
  

Sales in the capital region led the on-year gain last month.
  

The number of homes purchased in Seoul and its surrounding regions of Gyeonggi Province and Incheon rose 13.1 percent on-year to 49,392, although it dipped 12.1 percent from the previous month, the ministry said.
  

It also showed that transactions for apartments edged up 0.2 percent on-year last month, while sales of single-residence homes, townhouses and residential multiplexes all posted double-digit growth. (Yonhap)