China New Home Prices Decline 0.1% in February

China's new home prices decreased by 0.1% in February 2025 compared to January, continuing a trend of decline in the property market that has been struggling since a government crackdown on developer debt in 2021. Year-over-year, prices fell by 4.8%, showing slight improvement from the previous month's 5.0% drop. Despite government efforts to stimulate the market, including city-specific policies aimed at easing homebuying restrictions, demand remains subdued across all property sectors. The downturn reflects a broader economic challenge, as real estate once contributed significantly to China's GDP. The National Bureau of Statistics indicated that resale home prices also fell across various city tiers, highlighting the pervasive weakness in consumer confidence. Policymakers are now prioritizing the stabilization of the property market as a key task for 2025.