China’s Home Price Slump Persists as Buyer Demand Remains Weak

(Bloomberg) — China’s housing market slump persisted in November as prices and sales fell, underscoring the challenge for authorities as they seek to revive the beleaguered property market.

New-home prices in 70 cities, excluding state-subsidized housing, slid 0.25% last month from October, when they fell 0.37%, National Bureau of Statistics figures showed Thursday. Sales dropped 31% from a year earlier, widening from a 23% decrease in October, according to Bloomberg calculations based on official data.