Since January, the housing market has been experiencing a sharp downturn due to the facts that, in addition to other factors, banks have been tightening credit and inventory has increased. Commodity housing sales in large and medium sized cities slid by 20 to 30 percent with some down as much as 40 to 50 percent.
http://fangchan.21cbh.com/2014/5-29/5MMDA1NzFfMTE4MjM5MA.html