China New-Home Prices Barely Fall in Sign Market Stabilizing
- Prices of new homes in major cities fell 0.07% on month
- China has made more steps to put a floor under property crisis
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China’s decline in new-home prices eased for a fifth month in January, suggesting values are beginning to stabilize as policymakers step up efforts to end the property slump.
New-home prices in 70 cities, excluding state-subsidized housing, fell 0.07% from December, when they declined 0.08%, National Bureau of Statistics figures showed Wednesday. Values of used homes, which are subject to less government intervention, fell 0.34%, compared with a 0.31% drop a month earlier.