Has Housing Construction Been Revived?

Is the residential construction business revitalized?
As the number of unsold houses has recently been decreasing, people are wondering if the real estate market, after a prolonged slump, may be bouncing back.
According to the Ministry of Construction and Transportation on March 1, as of the end of January, the number of unsold houses stood at 97,418, a 5.1 percent decrease from the previous month of December 1998.
This is the sixth consecutive monthly decrease, and analysts feel the phenomenon is significantly due to the expectation that as the government announced its committed efforts to revive the real estate market, the market will, indeed, be revitalized.
Armed with this buoyant expectation, many people are applying to purchase newly-built houses, and real estate auctions are equally being revitalized.