The soaring housing prices in the city are predicted to end their upward trend and enter into a dull period in the fourth quarter of the year, the Shanghai Morning Post reported today.

"Up to five new condos were sold every day a month ago while now we can only sell one a day," said a house seller. More than 1,000 house buyers queued to claim housing registration numbers (people have to get housing numbers first before buy houses) while the actual number of housing buyers declined to 60 when the housing projects opened for sell, the house seller said.

It indicated that the soaring housing prices appeared like a spent bullet so the potential housing buyers should make a choice carefully and not to buy in a hurry, an industry analyst warned.

According to the statistics, the housing prices had a steady growth in the past four months with some housing projects in certain district sold out within one or two months.

The growing number of housing projects in the second half of the year and the national housing price slump are likely to cause the local price dip for the fourth quarter of the year, the analyst predicted.