Fresh from China NBS, average new home prices fell in 68 of the 70 cities compared with July. In July it was 64 cities. Year on year home prices were only up 0.5% versus 2.5% in July. In month on month terms prices fell 0.6% after 0.8% in July.
The bellwether cities don’t look much better than lower tier jobs. Shanghai new home prices were up 1.5% versus July’s 4.1% and Beijing’s new home prices were up 2.1% versus July’s 4.0%.
It’s awwn, baby.
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