Real Estate
China Home Prices Fall Sharply Despite Latest Rescue Plan
- Rescue plan has done little to bolster sentiment in market
- Expectations for more big stimulus at policy meeting are low
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China’s home prices fell again in June, underscoring the challenge for policymakers to halt the property market slump that’s hurting developers and the economy.
New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.67% from May, when they slid 0.71%, the most since October 2014, National Bureau of Statistics figures showed Monday. Values of existing homes declined 0.85%, compared with a 1% decrease a month earlier.