China's residential market is facing ongoing challenges, as new home sales from the country's top 100 real estate companies declined by 6.9% year-on-year in November, amounting to 363 billion yuan ($50 billion). This decline in sales, following a 7.1% increase in October, indicates that the anticipated effects of government stimulus measures have not yet had a significant impact.
The continuous drop in home sales raises concerns among investors and analysts about the future trajectory of China's real estate industry, suggesting that a stable recovery is still a long way off.