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China housing prices continued to slump in February
The National Bureau of Statistics published the February data for a 70-city sample of housing prices in China, which showed a continued price decline in line with expectations. Average primary market prices dropped -0.36% MoM and average secondary market prices dropped -0.62% MoM. Both were similar to the MoM declines in January. For new homes, 8 cities saw a MoM increase, 3 cities saw prices unchanged, and 59 cities saw a MoM decline. The biggest gain was a three-way tie at 0.4% MoM between Shanghai, Tianjin, and Wuxi. The steepest decline was -1.1% MoM in Nanjing. The secondary market was more downbeat. 2 cities ... (full story)