China April new house prices -0.6% m/m (prior -0.3%)
April new house prices in China -0.6% m/m-0.3% prior-3.1% y/yprior -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 March69 decrease in 2nd-hand vs. 69 in MarchHouse 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:China's government is considering buying unsold homes to ease oversupplyProperty 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. This article was written by Eamonn Sheridan at www.forexlive.com.
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. This article was written by Eamonn Sheridan at www.forexlive.com.
