China Home Prices Hold Steady After Declining for 16 Months
- New homes remained unchanged in January after policy easing
- Existing-home prices narrowed drop to 0.28%, softening decline
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China’s home prices steadied in January, ending a 16-month decline after the government expanded stimulus policies for the sector.
New-home prices in 70 cities, excluding state-subsidized housing, remained unchanged, compared with a 0.25% decline in December, National Bureau of Statistics figures showed Thursday. In the secondary market, existing-home prices dropped 0.28%, smaller than the 0.41% decline in the previous month.