Home sales in South Korea expanded in November from a year earlier, with the cumulative sales so far this year reaching an 8-year high, government data showed Wednesday.

According to the data provided by the Ministry of Land, Infrastructure and Transport, the number of home transactions stood at 91,050 last month, up 7.2 percent from a year earlier. 

The figure, however, was down 16.8 percent compared with October when home sales spiked, bolstered by the government's property market stimulus measures unveiled in September that included easing regulations on reconstruction. 

The data showed that the cumulative home sales came to 914,043 during the January-November period, a 20.5 percent hike from the same period a year earlier. The figure was the largest since 2006 when the housing market enjoyed a brisk season. 

The ministry expects that the annual home sales figure could reach 1 million this year. 

By region, Seoul and its surrounding metropolitan areas saw their home transactions grow 9 percent last month from a year earlier. Home transactions in the other provincial areas also increased 5.6 percent over the same period, the data showed. (Yonhap)