China’s New Home Prices Decline in January in 47 Out of 70 Cities on Month

New home prices fell M/m last month in 47 out of 70 cities tracked by China’s statistics bureau, according to a statement posted to the bureau’s website today. * New home prices fell Y/y in 14 of 70 cities in Jan. * Beijing new home prices fell 0.1% M/m; rose 0.1% Y/y * Shanghai new home prices fell 0.1% M/m; rose 0.7% Y/y * Jan. existing home prices declined 0.9% M/m in Beijing; down 0.7% M/m in Shanghai

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