By Dominique Fong
BEIJING -- Home prices in China in November grew slightly faster from the month before on the back of gains in smaller cities.
The average price of new homes in 70 cities rose 0.4% in November from October, excluding government-subsidized housing, according to calculations from The Wall Street Journal based on data released Monday by the National Bureau of Statistics. That compared with a 0.3% on-month gain in October.
Compared with the same period a year earlier, average new home prices increased 5.5% in November, slowing from a 5.7% increase in October.
Among China's biggest cities, home prices were stable in Beijing and Shanghai from the month before, but fell 0.1% in Guangzhou and 0.2% in Shenzhen.
During the same period, prices rose the fastest in Urumqi, up 1.9%. Prices also rose 1.5% in Zhanjiang and 1.3% in Xining.
New home prices rose in 50 of 70 cities in November from a month earlier, the same as in October. Prices of new homes increased in 59 of 70 cities in November from a year earlier, compared with 60 in October.
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