
What’sNewOurchannelchecksforChinadevelopersunderourcoverageshowthatAprilpresalesfiguresshouldbequitemixed,withsomedeveloperslikelytopostaMoMdropwhileothersanincrease.WebelieveJuneshouldbethepeaklaunchperiodin2Qforthestockswecoverwithstrongcontractsalestoberecorded.Mostdevelopersexpecttheir2Qcontractsalestoexceed1Q’sandweexpectbyJune,ourcoverage’saveragelock-inratiovstheirfull-year...