China’s June home prices fell 4.5%, fastest in nine years.

According to Reuters, China’s new home prices in June 2024 fell by 4.5% year-on-year, marking the fastest decline in nine years. This drop is indeed deeper than the 3.9% slide observed in May. Additionally, property sales and investment have also slumped, adding pressure on policymakers to introduce more support measures.

Sources:

money.usnews.com/investing/news/articles/2024-07-14/china-june-new-home-prices-fall-at-fastest-pace-in-9-years

tradingeconomics.com/china/housing-index

money.usnews.com/investing/news/articles/2024-06-30/chinas-june-new-home-prices-rise-at-slowest-pace-in-five-months-survey-shows

China's new home prices in June fell at the fastest clip in nine years while property sales and investment slumped, per Reuters.

New home prices slid 4.5% from a year earlier, hitting the lowest since June 2015, deeper than a 3.9% slide in May. pic.twitter.com/2lYCtuS73V

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