(Bloomberg) — Two of China\u2019s private data agencies skipped releasing data on monthly home sales by the country\u2019s top developers, after state-backed China Vanke Co. stirred market concerns with its bond extension bid.<\/p>\n
China Real Estate Information Corp. and China Index Academy, which are among the country\u2019s biggest private property data providers, didn\u2019t disclose the combined sales of the nation\u2019s 100 largest developers for November on Sunday. The two agencies, which usually release the data on the last day of every month, didn\u2019t provide a reason.<\/p>\n
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The delayed data disclosure comes after Vanke \u2014 long considered one of the sector\u2019s healthier firms \u2014 sought to postpone repayment on a local bond for the first time last week. Vanke\u2019s surprise move adds to the industry\u2019s woes after years of falling sales and massive defaults by China Evergrande Group, Country Garden Holdings Co., and others.<\/p>\n
The missing housing data \u201ccould increase uncertainty about the struggling sector\u2019s condition,\u201d Kristy Hung, a senior analyst on real estate at Bloomberg Intelligence, wrote in a Monday note. \u201cThe November data would likely show steeper declines.\u201d<\/p>\n
The private data sets are important gauges of the new-home market as they are usually published two or three weeks before the official data. The government typically releases monthly new property sales in the third week of every month.<\/p>\n
In October, China Real Estate Information\u2019s reading suggested new home sales for the country\u2019s top 100 builders slumped 41.9% from a year earlier, the biggest monthly drop in 18 months, Bloomberg calculations show. November\u2019s figures will be closely scrutinized as they compare to a high base a year earlier following a stimulus blitz from the government.<\/p>\n
<\/p>\n
Global banks remain pessimistic on China\u2019s property market, which has faced renewed sales weakness since the second quarter. UBS Group AG expects home prices to keep falling for at least two more years. Values of used homes have also dropped sharply, down more than a third from peak levels in major cities, according to UBS.<\/p>\n
Fitch Ratings warned last month that new-home sales by area could decline another 15%\u201320% before the sector stabilizes. The bleak outlook suggests banks\u2019 property-related bad debt will likely stay \u201celevated\u201d next year, Fitch said.<\/p>\n
China Real Estate Information and China Index Academy didn\u2019t immediately offer comments when reached on Monday.<\/p>\n
(Added more background in the fifth and sixth paragraphs.)<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — Two of China\u2019s private data agencies skipped releasing data on monthly home sales by the country\u2019s…\n","protected":false},"author":2,"featured_media":323491,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[7904,28,144,68198,101,114357],"class_list":["post-323490","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-bloomberg","tag-business","tag-china","tag-china-evergrande-group","tag-economy","tag-private-data"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/323490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=323490"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/323490\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/323491"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=323490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=323490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=323490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}