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China: Housing Sector Malaise Continues

CHINA
  • China’s new house prices declined -0.65% mom in July.
  • This was the 14th successive month of price declines dating back to June 2023.
  • July’s decline was marginally less than June.
  • New house prices fell in 66 cities.
  • The ongoing challenges for housing remain in China with a serious backlog of unsold properties creating overhang on property values.
  • Government policies announced thus far have failed to stem the move lower in prices and could require further adjustments going forward.

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