April new house prices in China -0.6% m/m

  • -0.3% prior

-3.1% y/y

  • prior -2.2%

New house prices slumping,

  • used houses prices down also, -0.9% m/m.

64 cities out of 70 with m/m decreases in sales prices of new homes vs. 57 in March

  • 69 decrease in 2nd-hand vs. 69 in March

House prices falling more rapidly than in March. Hard to argue this is a positive sign, until it turns around. Maybe this will make a difference ahead:

Property sector stocks are soaring since that news was released. While its still said to be only a plan, expectations of the purchase of unsold homes from distressed developers is high.

china property