November 14, 2024 02:04 GMT
CHINA: Housing Price Data Preview: Looking for Stability.
CHINA
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- Tomorrow sees the release of two key data points for the housing market, the month on month change in New and Used Home Prices
- Prices for both have declined consistently since early 2023, with the trend beginning in 2018.
- The housing market decline in recent years has brought the broader economy with it, resulting in the various stimulus measures announced since September.
- During and following the national holidays in October, China’s residential home sales jumped 73% for October compared to the previous month, with the value of new home sales rising 7.1%.
- It may be less likely that tomorrow's data will see a return to positive, however authorities will be looking for signs that the various stimulus measures are halting the price declines.
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