China’s New Home Prices Stall Again as COVID-19 Damps Sentiment

China’s New Home Prices Stall Again as COVID-19 Damps Sentiment
A worker walks on scaffolding at a construction site in Shanghai, on Jan. 14, 2022. Aly Song/Reuters
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BEIJING—Growth in new home prices in China was flat again in March versus the previous month, official data showed on Friday, pointing to fragile demand as growing COVID-19 lockdown measures dampened consumer confidence.

Average new home prices in 70 major cities were unchanged on a month-on-month basis for the second time in a row, according to Reuters calculations based on March data from the National Bureau of Statistics (NBS).