Key facts
- Secondhand home prices in China's four largest cities rose for a third consecutive month in May.
- Beijing, Shanghai, Guangzhou, and Shenzhen are the four largest cities in China experiencing this price rebound.
- Property upgrade demand is cited as the reason for the localized recovery in China.
- Shanghai and Shenzhen led the monthly gains in China's secondhand home prices.
- Home sales in Canada have increased for the second consecutive month.
- The rise in Canadian home sales suggests a potential turning point in the housing market.
In China, secondhand home prices in the nation's four largest cities—Beijing, Shanghai, Guangzhou, and Shenzhen—experienced a rebound for the third consecutive month in May. This localized recovery is primarily fueled by property upgrade demand. Shanghai and Shenzhen notably led the monthly gains in secondhand home prices.
Across the Atlantic, Canada's housing market is indicating a potential shift as home sales have risen for the second consecutive month. This trend suggests a possible turning point for the Canadian property sector.