China Home Prices Drop for Eighth Month During Lockdowns
- Weak homebuyer confidence among factors prolonging slump
- Loosening measures have yet to ease housing slowdown
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China’s home prices fell for an eighth month in April as measures to alleviate the real estate downturn failed to revive buyer confidence amid Covid outbreaks.
New home prices in 70 cities, excluding state-subsidized housing, dropped 0.3% from March, the fastest decline in five months, National Bureau of Statistics figures showed Wednesday. Values slid year-on-year for the first time since 2015.