Name: China Home Prices Drop at Fastest Pace in Months: Data
Uploaded: 2023-10-20T04:34:26.000Z
Description: China's new home prices fell for the third straight month in September and based on official data they're diving at their fastest pace in almost a year.

Tiffany Meier is an anchor, China news investigative reporter, and producer for NTD News based at the network's global headquarters in New York City. Tiffany anchors NTD's flagship shows "NTD Evening News" and "China in Focus" and co-moderates NTD's special election coverage "The Nation Decides." She produced the award-winning NTD Original documentary "Hollywood Takeover: China's Control in the Film Industry."


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China's new home prices fell for the third straight month in September and based on official data they're diving at their fastest pace in almost a year.

Of the 70 cities listed in the data records, 54 reported price declines last month more than in August.

September and October are traditionally peak months for new-home sales in China, but the new data seemed to dash hopes for a demand turnaround.

China's property sector was once a key engine for China's economic growth making up a quarter of its GDP.

Beijing has been churning out stimulus programs in recent weeks, but now there's doubt about whether its policies to prop up the property market are actually working.

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