• Only 2 of 70 higher, with 16 reporting unchanged
  • New home prices up 1.8% y/y in December compared to +2.4% in Nov.
  • Beijing existing home prices down 0.8% m/m, down 2.0% y/y.
  • Wenzhou, a port city of 3m in the South, reported a 4.9% monthly decline and 11.3% y/y decline

Not good, once home prices start to fall there is no telling when they’ll stop.