Unsold New Homes Accumulating in China’s Smaller Cities Despite Efforts to Revive Market

China’s inventory of new homes has climbed significantly, especially in smaller cities where it will take more than two years to sell them as the property slump gets worse despite government efforts to revive demand.

New homes in third- and fourth-tier cities took on average 26.3 months to sell as of the end of October, up from less than 20 months in July, according to data released by China Index Academy, the property think tank.