Bloomberg News

Danish Home Sales Take Record Length of Time, Association Says

October 13, 2011

Oct. 13 (Bloomberg) -- Danish homes up for sale in September had been on the market an average of nine months, the longest stretch since 2004 when the Association of Danish Mortgage Banks began collecting the data, the group said.

The increase in the time it takes to make a sale rose even as prices and the number of available properties fell from a month earlier, the Copenhagen-based association said today on its website. Prices dropped 0.4 percent from August, while the number of homes for sale fell 1.1 percent to 46,849, it said.

“The month’s fall in the number of properties for sale isn’t, unfortunately, a sign that the housing market is improving,” Ane Arnth Jensen, the association’s director, said in the statement.

To contact the editor responsible for this story: Frances Schwartzkopff at fschwartzko1@bloomberg.net


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