China’s new home prices across 70 cities dropped 3.2% year-on-year in July 2026, following a 3.3% decline in the previous month. While marking the 37th consecutive month of annual declines, the latest result was the slowest contraction since February, amid ongoing policy measures to mitigate the persistent weakness in the property market. On a monthly basis, new home prices edged down 0.1%, matching June's pace.