The resale value of residential real estate... is slightly weakening

A CoreLogic report shows the median profit dipped to 406 thousand dollars in the three months to March, down from a record high of 435 thousand in 2021's last quarter.

Chief Property Economist Kelvin Davidson says while the figures have softened consistent with the wider market slowdown, the fall is only minor.

He says it may be some time before we see more substantial declines in profit-making resales.