National Bureau of Statistics of China

China new-home prices fall for third straight month

China’s housing market stayed weak in August as new home prices fell 0.1% month over month and 3.0% year over year, though tier-1 cities showed signs of stabilization with Shanghai posting a year-on-year gain and Beijing’s declines narrowing. In addition, Guangzhou logged a 1.9% year-over-year drop, underscoring a broad downturn despite pockets of resilience in high-end demand.