China housing sector showing signs of grit

After a two-month decline, the pre-owned housing market staged a positive growth month-on-month for home prices in January. — Reuters

SHANGHAI: The Spring Festival holiday, normally a slow season for home sales in China, has seen transactions pick up for pre-owned homes in some major Chinese cities, which experts say signals a potential rebound in the sector.

In the 50 key cities tracked by Beike Research Institute, trade volume of existing homes soared 57% year-on-year during the holiday, and sales in terms of traded area recorded in the first 27 days of January approached that of the previous month, according to the research institute of KE Holdings Inc, a housing transaction and services platform.