China's new home prices continue to slip in August amid ongoing slump
Official data show that new home prices in China fell again in August, matching the month-on-month decline recorded in June and July.
Data released by the National Bureau of Statistics indicate that August saw another modest drop in new home prices, extending a pattern of declines that persisted through the previous two months. The month-on-month decrease was identical to that reported for June and July. On a yearly basis, the fall in prices slowed compared with the prior month, marking the smallest annual decline observed this year.
Why it matters
Falling home prices signal ongoing stress in China's real estate market, affecting the economy and household wealth.
In this story
new home pricesproperty slumpprice declineAugustannual slowdownreal estate marketeconomic impact
