The so-called "panic buying" of houses, or the public sentiment to not miss out on soaring apartment prices in Seoul, is showing signs of slowing for the seventh consecutive week.

According to the Korea Real Estate Board on Friday, the index indicating supply and demand for apartment unit transactions posted 101 as of Monday, down three-point-one points from 104-point-one a week earlier.

A number closer to zero means supply exceeds demand, while nearing 200 means the opposite.

The index has gradually declined after peaking in the second week of February at 111-point-nine.

An official from the agency said the latest trend reflects expectations for a sufficient housing supply in the capital region in the mid- to long-term, following the government's announcement of a package of relevant housing measures on February 4. The appetite - driven particularly by those in their 30s - also appears to have been muted in light of forecast higher property taxes. 

Analysts, however, said it is too early to expect prices to decline as demand continues to exceed supply in most areas, while in some parts of Seoul and nearby regions prices continue to set records.