Official data from the National Bureau of Statistics show that new home prices in 35 of 70 cities rose in August, down from 49 in July.
New home prices rose on a month-on-month basis in 35 cities, flat in 16 cities, and fell in 19 cities. On a year-on-year basis, home prices fell in 53 of 70 cities. In August, there were 58 cities which recorded year-on-year decline.
The data confirm that China’s home prices, on the whole, are still resilient, although the upward momentum has been weakened somewhat.
The chart below shows the changes in new home prices in 70 cities. The red colours show falling prices, while green colours show rising prices.
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