Record Fall for China New Home Prices

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July 18 (Bloomberg) –- Bloomberg’s Stephen Engle reports on home prices falling in 55 of the 70 cities monitored by the Chinese government and what it means for the economy. He speaks to Rishaad Salamat on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

It's expected to be the biggest offering in american history.

Prices in china reaching record levels.

Stephen engle joins us now from beijing with the details.

Rish, the big question right now, what's the bigger risk to the economy -- inflating the bubble and exacerbating the debt worry or a sudden downturn that knocks out a main pillar of the domestic economy?

The latter scenario is starting to take shape as begin home prices for june.

They fell in a record number of cities tracked by the government and numbers just released in the last hour.

New home prices in china following and 55 out of the 70 cities monitored by the government month over month.

Year-over-year, still 69 out of 70. they change the way to compile the statistics.

Prices and tier one cities both declined by 0.6% from the previous month, the most since the records -- since the way the records were compiled were changed in the first month of 2011. prices fell 1.7% in the eastern city of changzhou that saw a price decline.

This is month over month gaining 1.7%. this chart is the number of cities that saw price gains.

It's been a germanic turnaround over the course of the last two quarters.

Prices rose in just 8 out of 70 cities.

Two months ago that number was 44. in january, 62. now it is 8.

This text has been automatically generated. It may not be 100% accurate.

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