New home prices in China’s biggest cities record first rise in 10 months

New home prices in China's first-tier cities saw a slight increase of 0.2% in March, marking the first rise after nine months of decline or stagnation. According to the National Bureau of Statistics (NBS), prices in Beijing remained flat, while Shanghai and Guangzhou saw a 0.3% increase, and Shenzhen experienced a 0.2% gain compared to the previous month. Nationally, among 70 large and medium-sized cities tracked by the NBS, 14 recorded month-on-month price increases in March, up from 10 in February. Analysts caution that it is too early to confirm market stability without a sustained increase in homebuying demand. The data suggests a potential shift in the market, but further observation is needed.