Home prices dropped in 68 of 70 cities monitored by the National Bureau of Statistics in August, Bloomberg reported, citing a statement from the bureau. Home sales slumped 11% in the first eight months of this year amid an economic slowdown after banks tightened property lending to curb default risks. While 37 of 46 cities that imposed limits on home ownership since 2010 had removed or eased such restrictions as of Sept. 3 to stem the decline in sales, a wait-and-see attitude is still prevalent among homebuyers, according to Centaline Group, parent of China’s biggest property agency.
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