By Joyce Teo

THE euphoria in the private home market is tipped to start tapering off in the wake of the weaker stock market, although no one expects sales to plunge to the dismal levels seen late last year.

Recent sales data suggests the market has touched bottom and is climbing its way back up, spurred by developers cutting prices and offering incentives as well as a feeling among buyers that they had better move fast before the bargains go.

New private home sales have crossed the 1,000 unit mark every month since February with 1,668 transactions last month, the highest since August 2007, according to data from the Urban Redevelopment Authority yesterday.

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