China Home Prices Drop at Faster Pace Before Fresh Stimulus
- Property investment and sales remained weak last month
- Analysts doubt latest easing measures will end housing slump
The most recent stimulus resulted in a spurt of home sales in larger cities that is already losing momentum.
Source: Bloomberg
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China home prices dropped at a faster pace in August, underscoring why policymakers stepped up efforts at the end of month to address a slowdown that’s weighing on the world’s second-largest economy.
New-home prices in 70 cities, excluding state-subsidized housing, declined 0.29% last month from July, when they fell 0.23%, National Bureau of Statistics figures showed Friday. Other official data showed property investment and residential sales remained weak, even as economic activity picked up.