Vendors will need to rein in their house price hopes for the rest of the year if they want to secure a sale as a surge in new listings, lower auction clearance rates and a moderation in house price growth swings the market in favour of buyers, CoreLogic has warned.

The latest figures from the housing data firm show the preliminary auction clearance rate across the capital cities fell to 69.4 per cent this weekend, down from 71.7 per cent a week ago, as total auction listings rose 13 per cent to almost 2400.