The decline of new home prices in China's 70 major cities stabilized in December, as Beijing rolled out more supportive measures to counter the prolonged slump of the real-estate sector.
Average new-home prices in the 70 cities fell 0.25% in December from the prior month, on par with the decline recorded in November, according to calculations made by The Wall Street Journal based on data released Monday by the National Bureau of Statistics.
The official data showed 55 cities reporting month-on-month home price declines in December, up from November's 51.
Average new home prices in the 70 cities surveyed by the government fell 2.29% from a year earlier in December, narrowing slightly from a 2.33% drop recorded in November.
There were 53 cities reporting on-year declines in December, compared with 51 in November, the data showed.
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01-15-23 2118ET
