China Housing Woes Worsen as Prices Fall by the Most in Eight Years

(Bloomberg) — 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.