January New Home Prices Rebound, First-Tier Still Dominating

NBS reports new home prices increased 0.27% mom, an increase from December's 0.20% increase.

First-tier share of the price increase. In November, the first-tier plus Xiamen were 55% of the national price increase, with Shenzhen nabbing 22% of the total national increase. In December, those numbers were 54% and 23%, almost no change. In January, the first tier and Xiamen accounted for 52% of the total increase, with Shenzhen alone accounting for 21%, rising 4% mom. In the past year, prices are up an average of 1% nationally. Shenzhen alone is 74% of the total increase yoy. The first-tier plus Xiamen accounted for 141% of the total increase, or without those 5, prices fell 0.4% yoy nationally across 65 cities.

Existing home prices were up the same amount as new home prices last month, rising 0.27% mom. The first-tier plus Xiamen accounted for 68% of the increase in existing homes nationally.

Source: 2016年1月份70个大中城市住宅销售价格变动情况

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