Story perspectives

New-Home Sales Plummet 27% Amid Market Uncertainty

2/2/2026

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Summary

Story summary

The downturn continues into 2026 with new-home sales shrinking.
In January, contracted sales for the top 100 developers totaled 165.5 billion yuan (US$24 billion), down 27% year-on-year per China Real Estate Information Corporation.
Offshore USD-bond sales by 18 major developers dropped 53.67% from December and 18.51% year-on-year.
Month-on-month declines exceeded the post-Covid historical average, and market confidence remains low due to slower sales and delays from insufficient policy support.

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Story summary

The downturn continues into 2026 with new-home sales shrinking.
In January, contracted sales for the top 100 developers totaled 165.5 billion yuan (US$24 billion), down 27% year-on-year per China Real Estate Information Corporation.
Offshore USD-bond sales by 18 major developers dropped 53.67% from December and 18.51% year-on-year.
Month-on-month declines exceeded the post-Covid historical average, and market confidence remains low due to slower sales and delays from insufficient policy support.