China Home Prices Fall at Slower Pace in ‘Fragile’ Recovery

From bnnbloomberg.ca

China’s home-price declines eased for a third month in November, 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, dropped 0.2% from October, the smallest decrease in 17 months, National Bureau of Statistics figures showed Monday. Values of used homes fell 0.35%, the least since May 2023. China’s housing downturn has weighed on Asia’s largest economy for more than three years. The figures offer a glimmer of hope for the market after recent stimulus measures failed to sustain a rebound in sales ... (full story)