New home prices in China rose in 24 cities in January: Chinese report

On the 19th, the National Bureau of Statistics of China announced the trend of housing prices in January. Among the 70 major cities, housing prices in "first-tier cities" rose from the previous month, while "second-tier cities" and "third-tier cities" generally fell slightly.
New home prices in first-tier cities rose 0.1% month-on-month, down 0.1 percentage points from the previous month. Beijing fell 0.4%, Guangzhou was flat, Shanghai and Shenzhen were both down 0.4% and 0.5% respectively.
Second-hand home prices in first-tier cities rose 0.1%, down 0.2 percentage points from the previous month. Beijing rose 0.1%, while Shanghai and Shenzhen rose 0.
New home prices in second-tier cities rose 0.1% year-on-year, marking the first increase since June 2023. Second-tier city prices fell 0.3% year-on-year, the largest decline since June 2023.
New home prices in "tier 3 cities" fell 0.2% year-on-year, while used home prices fell 0.4% year-on-year. Both declines were the same as the previous month.
In January, new home prices rose in 24 of the 70 major cities from the previous month. This is one more city than the previous month.
Housing prices increased from the previous month in seven cities, down two cities from the previous month.