A real estate website says sellers remain realistic about prices, helping to further stabilise the property market.
Realestate.co.nz figures show the number of newly listed properties fell 5% percent to 11,000 in June, though are 16% higher compared to the same month last year.
The website's chief executive, Alistair Helm, says the market typically slows down in winter and, on a seasonally-adjusted basis, listings rose 5%.
Mr Helm says sellers remain confident and asking prices have edged up 1% to just over $410,000.
The number of unsold homes slipped slightly to 52,000 in June and, at the current rate, it will take 45 weeks to clear the backlog.