China Home Prices Fell Most in Seven Years Before Sector Rescue
- Residential values are in worst streak since at least 2011
- Takes time for homebuyers to get back into market: analyst
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China’s home prices fell the most in seven years in October, underscoring the depths of the downturn that prompted policy makers to bail out the sector.
New-home prices in 70 cities, excluding state-subsidized housing, slid 0.37% last month from September, a 14th straight decline, National Bureau of Statistics figures showed Wednesday. The existing-home market fared worse, dropping 0.47%, the steepest since 2014.