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E-mail Xinhua, December 15, 2023
This aerial photo taken on Oct. 17, 2023 shows a monorail train running in Wuhu City, east China's Anhui Province. [Photo/Xinhua]
Major Chinese cities reported falling home prices in November, official data showed on Friday.
The National Bureau of Statistics said that 70 large and medium-sized cities saw month-on-month declines in both new and second-hand home prices.
In the four first-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, prices of new homes edged down 0.3 percent last month, while that of resold homes dropped 1.4 percent.
Home prices in 31 second-tier cities and 35 third-tier cities in general also went down in November from a month earlier.
On a year-on-year basis, home prices witnessed mixed performances in Chinese cities.
For new homes, first-tier and second-tier cities saw marginal price increases but smaller cities reported drops. For resold homes, there were declines across the board.
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