China home sales decline

If the results from Vanke (A Chinese property developer) are indicative of the entire nation, home sales are declining rapidly.   The property developers can hold on for a while but eventually their pipeline of developments are going to cause some 'indigestion' and they will be forced to cut prices, reduce the pace of new home construction, or a mixture of both.  This bears watching in the future.

From China Daily:

China Vanke Co, the country's largest property developer by market value, announced on Sunday that its sales revenue in May decreased 20.2 percent from a year earlier amid the government's tightening moves.