China home prices fall across the board in February: Chinese report

The National Bureau of Statistics of China recently released the February housing price trend. Compared to the previous month, housing prices in 70 major cities generally fell slightly. Among them, new housing prices in "first-tier cities" rose.
New home prices in first-tier cities rose 0.1% month-on-month, unchanged from the previous month. Beijing, Shanghai, and Shenzhen rose 0.1%, 0.2%, and 0.1%, respectively.
Guangzhou fell 0.2%. Second-hand home prices in first-tier cities fell 0.1% year-on-year. Of these, Shenzhen rose 0.3%, Beijing remained stable, Shanghai and Guangzhou fell 0.4% and 0.3%, respectively.
New home prices in second-tier cities remained stable. Used home prices fell 0.4%, a 0.1 percentage point increase from the previous month.
New home prices in third-tier cities fell 0.3%, an increase of 0.1 percentage point from the previous month.
The decline was 0.4%, the same as the previous month. On the other hand, when comparing housing prices in each city with the same month last year, new housing prices in "first-tier cities" fell 3.0% compared to the same month last year, and in "second-tier cities" fell 4.7%.
In "tier 3 cities," second-tier cities fell 4.9%, "tier 1 cities" fell 7.4%, and "tier 3 cities" fell 8.0%.