In late 2018, housing essentially held up China’s economy as export growth slowed and consumers retrenched. While there is widespread concern that a property downturn is around the corner, this may yet be proven wrong. Most leading indicators aren’t encouraging. Land area purchased, which tends to lead housing sales by around six months, dropped 34% from a year earlier in January and February. Vacant, unsold housing space rose for the first time in two years—which is worrying, given sharply falling inventories had underpinned...

Source: Wall Street Journal April 16, 2019 10:07 UTC