Morgan Stanley  1月24日长篇，29页。
　　New home sales declined 3% WoW in 26 major cities（Hefei and Tianjin notavailable）for the week ended January 22，2017，per Soufun data.In 2017，sales in16 tightening cities are down 19% YoY vs.+13% YoY in 10 non-tightening cities.Overall MTD sales are down 15% MoM and 9% YoY vs.December’s flattish MoMand -18% YoY.