Home prices slide, but stability emerges

Despite the recent market stimulus measures, China's new home prices fell in November for the seventh consecutive month, private institutional data have revealed. But there were clear signs of stabilization in the country's largest cities.

The average price of new homes in 100 cities monitored by the China Index Academy, a Soufun Holdings Ltd affiliate, fell by 0.38 percent month-on-month in November to reach 10,589 yuan ($1,720) per square meter, slightly down on the 0.4 percent month-on-month contraction recorded in October.

Year-on-year, November's price dropped 1.57 percent, much larger than the 0.52 percent fall recorded in October.