YINN - China new home prices fall for 10th straight month by 1.2% Y/Y in February

2023-03-16 00:35:06 ET

• Average new home prices in China's 70 major cities dropped by 1.2 percent year-on-year in February 2023, slowing from a 1.5 percent drop in the previous month.
• This was the tenth straight month of decrease in new home prices but the softest pace since July 2022, as Beijing ramped up policy support for the ailing property sector since last November.
• On a monthly basis, new home prices rose by 0.3 percent, the most since July 2021, after a 0.1 percent gain in January, as the Chinese government moved to reopen the economy from pandemic curbs.

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