Inventory is still high in Beijing, buy new supply is falling. There were 20,238 new homes in the first 5 months of 2015, half last year's level. Through May 18, sales reached 23,674, up 31.6% from last year.
iFeng: 北京商品房供应创新低 供需失衡房价还要涨
New Home Sales Rise 8.8 Percent After 3.8 Percent Negative Revision
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The Census Bureau revised February seasonally-adjusted annualized sales
from 662,000 to to 637,000 and reports March at 693,000. Expect more
revisions.
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