China's home prices ease in October

BEIJING, Nov. 16 (Xinhua) -- China's home prices in 70 large and medium-sized cities eased in October, with more cities seeing a decline in home prices, the National Bureau of Statistics said Wednesday.

File photo: CFP

In October, 58 out of the 70 cities saw a month-on-month drop in new home sales prices, compared with 54 in September. A total of 62 cities witnessed a decrease in resale home prices, up from 61 in the previous month.

New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen and Guangzhou -- edged down 0.1 percent month on month in October, unchanged from the prior month, according to the data.

New home prices in 31 second-tier cities decreased 0.3 percent month on month, 0.1 percentage points greater than that in September, while 35 third-tier cities saw a month-on-month decline of 0.4 percent.

Prices of resale homes in the four first-tier cities decreased 0.3 percent month on month. The prices in second-tier and third-tier cities both edged down 0.5 percent month on month in the period.