According to Barron's land sales in China fell -24% in May in tier-one cities, -20% in tier-two cities, and -37% in tier-three cities. First-home buyers fell from 48% of the real estate market in China in 2012 to 20% of the market this year according to a separate report from Bloomberg.
The slower real estate and land markets helped bring down the stock of online real estate site SouFun.
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TheStreet Ratings team rates SOUFUN HLDGS LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOUFUN HLDGS LTD (SFUN) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."