The duration of the new home sales restriction in Xuzhou, China, has been a topic of interest due to its impact on the real estate market. As of the latest available data, the restriction has been in place for approximately 18 months. This duration is significant because it reflects the city's efforts to stabilize the housing market and manage rapid price increases.

The decision to impose the sales restriction was driven by several factors. Firstly, Xuzhou experienced a surge in property prices, which raised concerns about affordability and speculative investment. According to the National Bureau of Statistics of China, the average price of new homes in Xuzhou increased by 20.7% year-on-year in the first half of 2021. This rapid appreciation was attributed to a combination of low-interest rates, strong demand from first-time buyers, and limited housing supply.

To address these issues, the local government implemented a series of measures, including the sales restriction. This policy aimed to cool down the market by limiting the number of new homes that could be sold within a certain period. The restriction was initially set for 18 months, but it has been extended multiple times due to ongoing concerns about market stability.

Data from the Xuzhou Real Estate Regulatory Bureau indicates that the restriction has had a noticeable impact on the market. Since its implementation, the growth rate of new home sales has slowed down, and the average price has stabilized. For instance, in the first quarter of 2022, the growth rate of new home sales in Xuzhou was down to 10.5% year-on-year, compared to the 20.7% increase recorded in the first half of 2021.

The restriction's duration has been a subject of debate among experts. Some argue that the 18-month period was sufficient to stabilize the market, while others believe that a longer duration is needed to address the underlying issues of affordability and speculative investment. The decision to extend the restriction multiple times suggests that the local government is taking a cautious approach to ensure long-term market stability.

In conclusion, the new home sales restriction in Xuzhou has been in place for approximately 18 months, with extensions reflecting ongoing concerns about market stability. The policy has had a significant impact on the real estate market, leading to a slowdown in sales growth and stabilization of prices. The duration of the restriction is a critical factor in determining its effectiveness, and the decision to extend it multiple times indicates the city's commitment to long-term market stability.