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Housing Market Continued to Decline in November

According to the latest data released on December 18 by the National Bureau of Statistics, November saw prices for new homes fall, when compared to the prices in October, in 67 of the 70 medium and large cities. There was no change in the remaining three cities. Thus, November is the third consecutive month of overall decline with no price increase across the board. Compared to November 2013, the prices for new homes dropped in 68 of the 70 cities. 

With respect to existing houses, when compared to prices in October, November prices dropped in 58 of the 70 cities and in 67 cities when compared to November 2013. 

Source: National Bureau of Statistics, December 18, 2014