December home sales push 2014 volume higher
National home sales in December surged over the previous month, wrapping up 2014 with the second-highest sales volume in years.
According to monthly aggregate data of the National Bureau of Statistics, home sales in December rose 41.7 percent by floor area from November. By value, sales rose 41.4 percent month-on-month.
Behind the turnaround was a slew of stimulus policies, including a move by the central bank to ease mortgage restrictions on Sept 30 and cut interest rates on Nov 21.
Sales have steadily picked up since October.
Yan Yuejin, an analyst with E-House, said a big reason for the boom was that many developers sought to post a good full-year performance, which prompted them to boost sales with lower prices.