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China’s Housing Prices Have Been Going South for 16 Months

On January 16, China’s National Statistics Bureau released information on the housing prices in 70 major and medium-sized cities during the month of December, 2022. New house sales prices in 55 cities were lower than the previous month, an increase of four more cities from November’s statistics. Existing house sales prices went down in 63 cities, with the addition of one more city from November.

According to the National Statistics Bureau’s data, starting in September 2021, prices of both new house sales and existing house sales in 70 major and medium-sized cities have dropped down and the downward trend has lasted for 16 months, through the present.

Source: China News Agency, January 16, 2023