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Prices for New Homes in China Slide Further
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wsj.comA decline in Chinese new-home prices accelerated in May, even as local governments and banks ramp up support for a real-estate sector that has suffered from tightened regulations that have pummeled home sales and pushed some large developers to the brink of collapse.
Average new-home prices in 70 major Chinese cities declined 0.79% in May from a year earlier, compared with April’s 0.11% year-over-year pullback, marking the first month in which home prices have fallen by this measure in more than six years, according to Wall Street Journal calculations based on data released Thursday by China’s National Bureau of Statistics.
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