Daegu, Ulsan and North Gyeongsang Province Rank in the Top Three for Unsold-Home Clearance... 'Green Light' for New-Build-Led Market

[Financial News] Unsold housing units in major provincial cities that had endured a prolonged real estate downturn are being rapidly cleared, signaling a turnaround in market conditions. Daegu, Ulsan and North Gyeongsang Province recorded the steepest declines in unsold homes nationwide.
According to data from Real Estate R114 released on the 30th, Daegu cleared more unsold homes than any other region over the past year and a half, from the end of 2024 through June this year. The number of unsold units in Daegu fell from 8,807 in December 2024 to 4,383 as of June this year, a decrease of 4,424 units—the largest decline nationwide.
Ulsan followed, with its unsold inventory falling by 2,772 units from 4,131 to 1,359. North Gyeongsang Province also absorbed 1,703 units, reducing its total from 6,987 to 5,284. Within the province, unsold-home clearance was particularly notable in Gumi (-1,331 units), Gyeongju (-911 units) and Pohang (-738 units). Unsold inventories also declined in several other provincial areas, including Gangwon State, South Jeolla Province, Jeollabuk-do, South Gyeongsang Province and North Chungcheong Province.
By contrast, South Chungcheong Province posted the largest increase during the same period, with unsold homes rising by 5,080 units from 3,814 to 8,894. Busan followed with an increase of 3,351 units. Unsold inventories also edged up in all three metropolitan areas of the capital region—Incheon Metropolitan City, Gyeonggi Province and Seoul.
The direct cause of this trend is believed to be changes in housing supply. From January through June 2025, large-scale housing releases in Gyeonggi Province (76,952 units), Incheon Metropolitan City, South Chungcheong Province and Busan led to increases in unsold homes. In contrast, relatively limited new supply in Daegu (2,642 units), Ulsan (6,616 units) and North Gyeongsang Province (8,457 units) allowed existing unsold inventory to be rapidly absorbed.
An industry expert said, "Daegu, North Gyeongsang Province and Ulsan had suffered a downturn for some time because of accumulated unsold homes. However, units are now being rapidly absorbed as supply plunges, and some new-build complexes have even recorded transactions at record-high prices." The expert forecast, "With the shortage of new supply in these areas expected to continue for the time being, strength led by new-build properties is likely to persist."
Meanwhile, new apartment complexes are set to be offered for sale in major areas where the decline in unsold homes has been pronounced.
TAEYOUNG Engineering & Construction plans to launch Gumi Park One Desian, a large-scale complex with 1,355 units, for sale in November in Doryang-dong, Gumi, North Gyeongsang Province. Developed under a private-park special project, the complex offers a pleasant residential environment and is generating expectations with ample community facilities and excellent school districts.
POSCO E&C will launch ACMER DONGTAN, a 1,808-unit complex, for sale in Dongtan New Town in October. The project features differentiated designs, including 2.5-meter ceiling heights in every unit and spacious wide-format parking spaces. It is also drawing attention amid the decline in unsold homes in Hwaseong City.
In addition, a consortium of GS Engineering & Construction, Hyundai Engineering and Construction and Kolon Global plans to launch Sangok Station Xi Hillstate & Hanulchae in Bupyeong District, Incheon Metropolitan City, while LOTTE Engineering & Construction plans to introduce Gyeonggi Gwangju Station Lotte Castle Signature Complex 2 in Gwangju, Gyeonggi Province, both in October.
[email protected] Jeon Min-kyung Reporter