New private home sales slow in August 2026 amid launch lull and Hungry Ghost Month
New private home sales slowed in August 2026 as developers held back major launches during the Lunar seventh month.Developers sold 153 new private homes, excluding executive condominiums (ECs), down 79.1 per cent from 731 units in July. Sales were also 92.9 per cent lower than the 2,142 units recorded in August 2025.This was the lowest monthly sales volume since February 2024, when developers also sold 153 units. Including ECs, total developer sales fell from 758 units in July to 171 units in August.According to Luqman Hakim, Chief Data & Analytics Officer at 99.co, the steep decline does not necessarily point to a sudden loss of buyer interest. Instead, it largely reflects how few new homes entered the market during the month. August also overlapped with the Hungry Ghost Month, which runs from Aug 13 to Sept 10 in 2026 and is traditionally a quieter period for major purchases.