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China housing prices down again in December, but fall slower than November

The average new home price fell 0.4% in the 70 mainland cities surveyed last month, less than the 0.6% fall seen in November–though the home-price decline widened on a year-on-year basis, The Wall Street Journal reported, citing data from the National Bureau of Statistics. December was the fourth consecutive month that average prices fell less sharply than in the previous month. Policymakers have injected liquidity into the market through various measures in recent months; housing sales in the 70 cities surveyed rose 9% from November due to mortgage policy adjustments, an interest-rate cut and developer efforts to offload inventory, according to a statement on the bureau’s website.

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