The Real Estate Market Cooled Down in Traditional Seasonal High

SHANGHAI, Oct 11 (SMM) - The number of new home units sold in core cities fell in September both month-on-month (MoM) and year-on-year (YoY). For the 11 cities involved in the survey, the number of new home units sold in September fell 18% YoY, and down 4% MoM. The cumulative number of new home units sold YTD rose 21% YoY, and up 20% from 2019. In details, the number of new home units sold in first-tier cities in September dropped 29% YoY, and shrank 23% MoM; the cumulative YTD data grew 32% YoY and 28% from 2019. The number of second tier cities declined 13% YoY, and rose 5% MoM; the cumulative YTD data climbed 18% YoY, and up 17% over 2019.

The number of second-hand home units sold in core cities fell in September both month-on-month (MoM) and year-on-year (YoY). For the 11 cities involved in the survey, the number of second-hand home units sold in September fell 53% YoY, and down 18% MoM. The cumulative number of second-hand home units sold YTD rose 3% YoY, and up 3% from 2019. In details, the number of second-hand home units sold in first-tier cities in September dropped 58% YoY, and shrank 23% MoM; the cumulative YTD data grew 5% YoY and 21% from 2019. The number of second tier cities declined 46% YoY, and fell 13% MoM; the cumulative YTD data climbed 1% YoY, and down 12% over 2019.