China Home Prices Continue to Fall Amid Sluggish Sales in March

The price of China’s homes continued to fall in March, as did the number of sales, despite the easing of purchase restrictions and a relaxation of mortgage rules.

The prices of new homes in 70 cities fell 0.3% from the previous month, while existing-home prices dropped 0.5%, data from the National Bureau of Statistics (NBS) showed Tuesday.

The decline for existing homes in first-tier cities was deeper at 0.7%, compared with an average drop of 0.5% in second and third-tier cities.