China New Home Price Declines Narrow in April
New home prices in China fell 0.1% in April marking the slowest monthly decline in a year as major cities began to stabilize. Analysts suggest a broader market recovery remains months away as property investment and household mortgage demand continue to show significant weakness.
China new home prices fell 0.1% in April, the slowest monthly decline in one year. This follows a 0.2% drop in March as major cities show signs of price stabilization. Investors view price stability as a necessary first step to revive a sector representing 25% of the economy.
### Tier-One Cities Lead Stabilization Reuters calculations based on National Bureau of Statistics data show the monthly decline narrowed to 0.1% in April. On an annual basis, prices fell 3.5% compared to a 3.4% drop in March, the steepest annual decline in 11 months. Firmer prices in major hubs drove the monthly improvement.
