New home prices in China slipped 0.5% month on month in October, the fastest monthly decline in a year, Reuters reported Friday, citing its own calculation of data from the National Bureau of Statistics.

The fall was faster than the 0.4% decline in September, according to Reuters.

In annual terms, prices declined 2.2% during the month, the report said.

The decline came during a traditionally busy season, signifying challenges in the sector, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)