China's housing prices fall again in August as slump reaches an year

China’s home prices fell at a faster pace in August, marking a 12th month of declines, underscoring how a revival of the country’s real estate market could take much longer despite a flurry of government support policies.
 

New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.29% last month from July, when they fell 0.11%, National Bureau of Statistics figures showed. From a year earlier, prices fell 2.1%, the most in seven years.

China’s $2.4 trillion new-home market is showing little signs of recovery, adding to the drag on growth in the world’s second-largest economy. Other figures released Friday showed