New home sales in major cities fell at faster pace on year in first three weeks of July – chart
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New home sales in major cities fell at faster pace on year in first three weeks of July – chart
STOCKS

New home sales in major cities fell at faster pace on year in first three weeks of July – chart

 

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New home sales in China’s 36 major cities in the first three weeks of July declined at a faster pace year-on-year compared to the previous month, with sales in cities of different tiers falling at a faster pace, though improving from the same period in May, according to a note from China Merchants Securities.

In the three-week period, the growth of second-hand home sales in sample cities climbed back into positive territory, according to the note.

(Red line: Year-on-year growth of second-hand home sales in sample cities; Orange line: year-on-year growth of new home sales in sample cities. Chart from China Merchants Securities.)