China’s Home Sales Slump Extends as Prices Continue to Decline

China's housing market is facing a prolonged slump, with home sales declining further in August. Prices continue to drop as the country's two largest cities, Beijing and Shanghai, have implemented additional stimulus measures to support the struggling sector. The article highlights that the ongoing downturn in China's real estate market shows no signs of abating, with home sales extending their decline. This comes despite the efforts of the authorities to provide stimulus and support to the industry. The slowdown in the housing market is a significant concern for the Chinese economy, as the real estate sector plays a crucial role in the country's growth. The continued decline in home sales and prices may have broader implications for the overall economic performance of China. The article presents a concise and unbiased summary of the key facts, focusing on the extended slump in China's home sales and the ongoing price declines, as well as the implementation of additional stimulus measures by the authorities.