China Housing Woes Worsen as Prices Fall Most in Eight Years
- Homebuyers are deterred by uncertain outlook, analyst says
- Property slump is deepening despite stimulus measures
China home prices fell the most in eight years in October, signaling the property slump is worsening even after the government ramped up efforts to revive demand.
New-home prices in 70 cities, excluding state-subsidized housing, declined 0.38% last month from September, when they dropped 0.3%, National Bureau of Statistics figures showed Thursday. The decrease was the steepest since February 2015.