Chart of the Day: HDB resale volume plunged 45.4% to 3,426 units in Q2

This also marks the lowest quarter sales on record since 2007.

This chart from OrangeTee & Tie shows that HDB resale transactions plummeted 45.4% YoY in Q2 to 3,426 units from 6,276 units in Q2 2019. On a QoQ basis, HDB resale volume sank 41.9% QoQ from 5,893 units in Q1.

This quarterly figure is also said to be the lowest quarter sales on record since 2007, based on government data. The previous low was 3,781 units in Q1 2014. The sales decline could be attributed to the tighter safe distancing measures imposed during the Circuit Breaker and the pandemic.

The HDB office was closed and some transactions could not be completed. Based on HDB data from data.gov.sg, the number of resale transactions plunged to 424 units in April and a historical monthly low of 363 units in May. The HDB resale market roared back to life once the Circuit Breaker measures were lifted as sales volume rebounded strongly by 575.2% MoM to 2,451 units in June.