S&P Global Ratings · Full chronicle and history

S&P’s February 2026 report said that China’s housing supply exceeds demand, and that home prices are expected to fall another 2% to 4% in 2026, with steeper declines in core cities, creating a vicious cycle.

In a report in early February 2026, S&P lowered its forecast, projecting that China's property sales would fall 10% to 14% in 2026, compared with a previous forecast in October of a 5% to 8% decline.