New government stats show average housing prices in the 70 major cities monitored by the National Bureau of Statistics dropped 5-percent year-on-year last month.
Average new home prices contracted 0.4 percent month-on-month, the 9th consecutive month of declines.
This is leading to suggestions the recent reduction of the reserve requirement ratios for banks has done little to increase spending in the housing sector, even though more money is available.
It's also prompting speculation of further monetary easing by the People's Bank of China, given the real estate sector continues its downward trend and a deflationary trend shows no signs of going away, especially at the wholesale level.
For more on what the central banks options are, we're now joined live by CRI's Financial Commentator Cao Can.
