This is an even longer streak than during the 2015 housing market slowdown when prices fell for 13 straight months.
Existing home prices fell -7.5% in February, following a -7.8% YoY plunge in January.
Concerningly, used-home prices in top-tier cities decreased by 0.1% MoM, posting the first monthly decline since stimulus began in September 2024.
Prices in those cities are perceived as a bellwether for the entire property market, suggesting further weakness ahead.
China’s real estate collapse is not yet over.
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