China new home prices extend decline as weak demand pressures developers
China new home prices fell 3.1 percent in January as weak demand persists. The decline pressures developers despite recent moves to ease debt restrictions.
Official data released by the National Bureau of Statistics on Friday showed that new home prices in China 
CN fell 0.4 percent month-on-month and 3.1 percent year-on-year in January. This year-on-year decline represents the steepest drop in seven months, while the month-on-month decrease matched the fall recorded in the previous month. The data highlights a persistent downturn in the housing market as 62 of 70 surveyed cities reported price declines during the period.
CN fell 0.4 percent month-on-month and 3.1 percent year-on-year in January. This year-on-year decline represents the steepest drop in seven months, while the month-on-month decrease matched the fall recorded in the previous month. The data highlights a persistent downturn in the housing market as 62 of 70 surveyed cities reported price declines during the period.
