Go to Article
Excerpt from finance.yahoo.com
BEIJING (Reuters) -China’s new home prices fell at the fastest pace in more than 9-1/2 years in May, official data showed on Monday, with the property sector struggling to find a bottom despite government efforts to rein in oversupply and support debt-laden developers.
Prices were down 0.7% in May from the previous month, marking the 11th straight month-on-month decline and steepest drop since October 2014, according to Reuters calculations based on National Bureau of Statistics (NBS) data.
In annual terms, new home prices were down 3.9% from a year earlier, compared with a 3.1% slide in April.
