China Home-Price Slump Persists as Authorities Vow Stability

China’s home-price slump dragged on in November, the latest chapter in a yearslong downturn that policymakers have promised intensifying efforts to address.

New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.39% from October, when they slid 0.45% in the biggest decline in a year, figures from the National Bureau of Statistics showed on Monday. Resale home values, which are subject to less government intervention, fell 0.66%, the same pace as a month earlier.