AsianFin -- China’s home price decline moderated for the fourth consecutive month in December, signaling signs of market stabilization following the government’s latest stimulus efforts.
New home prices in 70 cities, excluding state-subsidized housing, fell by just 0.08% from November, marking the smallest drop in a year and a half, according to figures released by the National Bureau of Statistics on Friday. Existing home prices dropped 0.31%, a slight easing from the 0.35% decline seen the previous month.
These figures suggest that property values may be stabilizing as policymakers intensify efforts to reverse the housing slump that has been impacting the world’s second-largest economy for over three years. The downturn has wiped out billions of dollars in household wealth and contributed to deflationary pressures.
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