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China Home Prices Fall for 11th Month as Mortgage Crisis Deepens

  • Pace of decline widened to 0.11% after mortgage boycotts
  • Pressure on developers likely to remain due to covid lockdowns

China’s home prices fell for an 11th month in July, underscoring how government relief efforts are failing to curb the country’s spiraling real estate crisis. 

New home prices in 70 cities, excluding state-subsidized housing, declined 0.11% from June, when they sank 0.1%, National Bureau of Statistics figures showed Monday. Existing-home prices fell 0.21%, the same as a month earlier.