China's home price declines narrowed in September 2026

Official data for September show China's home prices still lower than a year ago, but falling more slowly, with first-tier cities rising month on month.

According to the National Bureau of Statistics, as reported by Xinhua on October 19, 2026:

• In the four first-tier cities (Beijing, Shanghai, Guangzhou and Shenzhen), new home prices were down 0.5% year on year, a decline 0.4 percentage points narrower than in August. Second-hand home prices were down 1.5% year on year, narrower than August's 2.7%. Prices in first-tier cities rose month on month.
• In second- and third-tier cities, year-on-year declines for new and second-hand homes moderated compared with August.
• Across the 70-city sample, new home prices rose month on month in 17 cities, two more than in August, and second-hand prices rose in 9 cities, six more than in August.

NBS spokesperson Mao Shengyong said the overall real estate market "is moving in a positive direction".

Sources

• Xinhua: Major Chinese cities report narrowed home price declines in September
• Caixin Global: China's second-tier new-home prices flatten

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