China's Home-Price Decline Accelerated in March
China's property market showed continued signs of weakness, as the year-over-year decline in home prices for March accelerated, defying Beijing's intensified policy support measures.
New-home prices in 70 major Chinese cities fell 2.65% in March compared with a year earlier, faster than the 1.9% year-over-year decline in February. There were 58 cities reporting year-over-year price declines, slightly higher than February's 57 cities, according to official data released Tuesday.
Meanwhile, new-home prices in March edged down 0.34% in month-over-month terms, compared with a 0.36% month-over-month decline in February, according to calculations by The Wall Street Journal based on data from the National Bureau of Statistics.
Among 70 cities surveyed by the statistics bureau, 57 of them reported a month-over-month price drop in March, down from 59 in February.
Write to Singapore Editors at singaporeeditors@dowjones.com
(END) Dow Jones Newswires
April 15, 2024 22:02 ET (02:02 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
After Earnings, Is GE Aerospace Stock a Buy, a Sell, or Fairly Valued?
-
3 Good Stocks to Buy with Your Tax Refund in 2024 (Or with Any Extra Money)
-
SoFi Earnings: Revenue Growth Slows on Lower Loan Growth and Higher Credit Costs
-
Tesla: Full Self-Driving Approval In China Supports Our View for Deliveries Growth In 2024
-
Philips Earnings: Firm Reaches $1.1 Billion Settlement Agreement
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year