Home Prices Slump in September

From the monthly CREIS report: Chinese 100-city average home prices fell 0.92% month on month. Price distribution widened in September, with the cities seeing gains seeing larger gains and those at the bottom seeing much larger losses. Median home prices across the 100 cities was ¥7081/sqm, down 0.22% mom.

Surprise: Handan saw prices increase 1.29% even though the housing market is in a freeze. Have to wait and see if government numbers corroborate this, but this does at least temporarily call into question the media coverage of the crisis.

The ten largest cities saw losses across the board in existing homes (last table) and only Shenzhen saw a price increase for new homes (second to last table) in September.

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