China’s new home prices fell again in August, extending a prolonged slump in prices as persistently weak demand in the pivotal housing sector remains a drag on economic growth. Prices slipped 0.3% in August from the previous month, according to Reuters calculation based on data released by the National Bureau of Statistics. The figure matched July’s month-on-month decline and extended a weak trend that has persisted since May 2023. On an annual basis, new home prices dropped 2.5% in August, narrowing from a 2.8% decline in July. China’s real estate sector entered a downturn in 2021. Multiple rounds of stimulus ... (full story)