BEIJING (Reuters) -China’s new home prices fell 0.3% in July from the previous month, official data showed on Friday, as demand remained muted despite more local governments rolling out incentives for homebuying.
The month-on-month figure, calculated by Reuters based on data released by the National Bureau of Statistics, extended a weak trend that has persisted since May 2023. Prices fell 0.3% on month in June.
On an annual basis, new home prices fell 2.8% in July, versus a 3.2% drop in June.
(Reporting by Liangping Gao, Yukun Zhang and Ryan Woo; Editing by Sam Holmes and Sonali Paul)
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