China’s New Home Price Increases Slowed in November
Official data from China’s National Bureau of Statistics (NBS) reveals that new home prices in 70 of China’s major cities continued to cool in November. The NBS is reporting that November’s new home prices increased 0.1%, which is the slowest pace since March, when the coronavirus induced lock down measures slowed home buying. In comparison the October rate was 0.2%. Year-over-year prices in November rose 4%, which is the weakest rate since February 2016. In comparison the October year-over-year price increase was 4.3%.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.