China's home prices continued to decline in March, official data showed, highlighting persistent weakness in the property sector that is weighing on domestic demand.
Home prices in the country's 70 biggest cities fell 0.21% in March compared with a 0.28% drop in February, according to calculations by The Wall Street Journal based on data released by the National Bureau of Statistics on Thursday.
Of the 70 cities, 54 reported a month-on-month decline, up from 53 cities in February.
Home prices declined 3.6% in March on the year, widening slightly from February's 3.5% fall. There were 65 cities reporting year-over-year price declines, the same as February.
In the first quarter, home prices in the 70 major cities fell 3.5% from the same period a year earlier.
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