China home prices fall for 11th month as mortgage 'boycott' continues

China’s home prices fell for an 11th month in July, underscoring how government relief efforts are failing to curb the country’s spiraling real estate crisis. 

New home prices in 70 cities, excluding state-subsidized housing, declined 0.11% from June, when they sank 0.1%, National Bureau of Statistics figures showed Monday. Existing-home prices fell 0.21%, the same as a month earlier. 

China’s $2.4 trillion new-home market is showing little signs of recovery, adding to the woes of an economy that barely expanded last quarter. The mortgage boycotts, which emerged from early July, are dampening consumer confidence.

Within four weeks last month, more than 320 projects