October private home sales fall to lowest since April 2020 amid lack of major launches

October private home sales have reached the lowest since the circuit breaker period in April 2020. Industry watchers attributed this to a lack of major launches. New apartments sold by developers fell to 312 units -- a third of the 987 units sold in September. Market observers expect home sales to remain muted for this year. They said developers are holding back on new launches during the holiday season. Analysts said economic uncertainties could pose a risk to home sales in 2023.