China's housing market faced another setback in October 2024, with house prices experiencing a slight decline. The current year's house price index has reached -5.9%, a further decrease from the -5.8% recorded in September 2024. The data, updated as of November 15, 2024, marks the continuation of a downward trend observed over the past year.
This year-over-year comparison highlights the persistent challenges within the Chinese real estate sector, which has been grappling with various economic pressures. The latest figures reflect a continuing struggle for recovery, amid efforts by regulators to stabilize the market and stimulate buyer interest.
Market analysts are closely watching these trends, as the real estate sector plays a crucial role in China's economic landscape. The latest data adds to the concern that lingering issues, such as oversupply and cautious consumer sentiment, are impeding the sector's return to growth. Moving forward, policymakers may need to consider additional measures to address these persistent challenges and support a rebound in house prices.