China's Home Prices Decline 0.1% in March, 5.0% Year-on-Year; 24 Cities See Increases

In March, China's residential sales prices saw a slight month-on-month decline of 0.1% across 70 major cities, according to the National Bureau of Statistics (NBS). Year-on-year, the average price dropped by 5.0%, an improvement from the 5.2% decline recorded in February. Notably, first-tier cities including Beijing, Shanghai, Guangzhou, and Shenzhen experienced price increases compared to February, while the overall trend in second and third-tier cities showed a narrowing of price declines. The NBS reported that 24 cities saw higher new house prices last month, up from 18 in February, and 10 cities recorded price increases for resold homes, an increase from 7. These developments come amid ongoing government support policies aimed at stabilizing the housing market, as the country prepares for potential trade tensions with the U.S. under Donald Trump's administration.