New home sales declined 3% WoW in 26 major cities(Hefei and Tianjin notavailable)for the week ended January 22,2017,per Soufun data.In 2017,sales in16 tightening cities are down 19% YoY vs.+13% YoY in 10 non-tightening cities.Overall MTD sales are down 15% MoM and 9% YoY vs.December’s flattish MoMand -18% YoY.
20170125-MORGAN_STANLEY-CHINA_PROPERTY:WEEKLY_TRACKER,STRONG_DECEMBER_NBS_DATA.pdf
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