A Tale of Two Tiers; Housing Inventory Divergence Gets Extreme

Here's a few stats showing the divergence in housing inventory among the haves (hot first- and second-tier cities) and the nots in a 25-city survey.

Inventory Growth: 15 cities. Wherein Taiyuan, Maoming and Jining three cities saw a greater increase in inventories, an yoy increase of 84.7%, 76.9% and 68.2% respectively.

Inventory decline: 20 cities. The yoy decline in Hefei, Nanjing and Suzhou are largest at 64.9%, 54.5% and 49.7%.

Inventory total: First- second- and third-tier cities, a total of 35 cities, new commercial housing stock was 30.71 million square meters, 175.4 million sqm, and 42.7 million sqm, a month-to-month increase of 0.8%, -0.8% and -1.3%, respectively, year on year increase of 15.0% , -3.9% and 1.0%.

New supply: 35 cities new residential monthly new supply of 23.05 million square meters, a decrease of 25.0% mtm, an increase of 24.7% yoy. 35 cities new supply last month was slightly less than the monthly sales, so May inventories declined.

Sales ratio: in May 2016, first-, second- and third-tier 35 cities new commercial housing sales ratio was 8.4,10.2 and 16.0 months. Compared to April 8.4,10.5 and 16.9 months, the first-tier cities basically unchanged, while the second and third tier cities the velocity has accelerated.
iFeng: 去库存半年 部分城市演绎出一场“库存危机”

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