China New Home Prices Fall at Fastest Pace Since 2022

New home prices in China fell at the fastest pace in more than three years in February, according to a private survey released on Sunday. The data underscores the persistent challenges facing the property sector despite ongoing efforts by policymakers to stabilize the market.

According to the China Index Academy, one of the nation's largest property research firms, new home prices across 100 cities slipped 0.04% month-on-month. This decline reversed a 0.18% gain recorded in January and marked the steepest drop since December 2022. Official government data for 70 cities is scheduled for release on March 16, though previous reports indicate that prices have not seen a monthly increase since May 2023.