April new house prices in China -0.6% m/m-0.3% prior-3.1% y/yprior -2.2%New house prices slumping, used houses prices down also, -0.9% m/m.House prices falling more rapidly than in March. Hard to argue this is a positive sign, until it turns around. Maybe this will make a difference ahead:China's government is considering buying unsold homes to ease oversupplyProperty sector stocks are soaring since that news was released. While its still said to be only a plan, expectations of the purchase of unsold homes from distressed developers is high. This article was written by Eamonn Sheridan at www.forexlive.com.
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