Feb 23, 2024 03:48 PM

ECONOMY

China Home Prices Fall at Slower Pace as Support Mounts

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In both new and existing-unit markets, the number of cities with rising home values picked up, the first time in 10 months. Photo: Bloomberg

In both new and existing-unit markets, the number of cities with rising home values picked up, the first time in 10 months. Photo: Bloomberg

(Bloomberg) — China’s home prices declined at a slower pace for both new and existing-units in January, the first signs of improvement in 10 months.

New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.37% last month from December, when they retreated 0.45%, National Bureau of Statistics figures showed Friday. The second-hand market also improved, with price declines narrowing to 0.68%.

　

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