China’s new-home prices fell at a faster pace in July, in a further sign that a series of stimulus measures has failed to revive the moribund market.

New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.31% from June, the biggest decline in nine months, National Bureau of Statistics figures showed Friday. Resale home-value slump surprisingly narrowed to 0.55%, compared with 0.61% in June.