An odd thing is happening in the housing market - auction numbers are down compared with this time last year, but the numbers of homes being sold is up.

There were 3,367 homes put on the block last week, according to CoreLogic’s weekly update. That was down by nearly 10 per cent from the corresponding week of last year. But clearance rates tell a different story. In the past week the clearance rate was 76.0 per cent, well up…