China's new home prices across 70 cities dipped 3.1% year-on-year in January 2026, deepening from December's 2.7% drop, marking the 31st consecutive month of decline and the sharpest fall since June. Major cities like Guangzhou (-5.3%), Shenzhen (-4.9%), Chongqing (-3.5%), and Tianjin (-4.0%) saw steeper drops, while Beijing remained at -2.4%. Shanghai grew modestly at 4.2%. On a monthly basis, prices fell 0.4% for the third consecutive month.

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