China’s Preowned Housing Market Shows Signs of Stabilizing

What’s new: China’s preowned home market has shown signs of stabilizing amid an easing of property measures, with transactions in 15 surveyed cities rising 40% year-on-year to 1.9 million square meters during the first two weeks in October, according to data compiled by brokerage Cinda Securities Co. Ltd.

While the indicators point to a potential bottom in the market, the chief economist at asset-management firm GROW Investment Group, Hong Hao, told Caixin Wednesday that the recovery may not mean much for the broader economy. The preowned property market is much smaller in scale than the new housing market.