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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/y. • Prior -2.2% New house prices slumping, used houses prices down also, -0.9% m/m. 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: • China's government is considering buying unsold homes to ease oversupply. 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. ... (full story)