SYDNEY, Feb 14 (Reuters) - New Zealand house prices
edged higher in January but high interest rates, lower borrowing
capacity and reports about a possible recession were keeping
homes on the market longer, the Real Estate Institute of New
Zealand (REINZ) said on Tuesday.
Seasonally adjusted national median house prices values rose
0.2% in January compared with the previous month, and were down
13.2% from a year ago, according to REINZ.
Chief Executive Jen Baird said prices continued to ease but
the pace of the decline was steadying and the market showed
"glimpses of new life."
"In seasonally adjusted terms, this month's numbers show a
January that performed better than expected," Baird said.
(Reporting by Renju Jose in Sydney; Editing by Chris Reese)
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