Poor sales for real estate market during holiday

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It's been a good week for sellers of cars, home-appliances and jewelry. But not for China's real estate market, with transactions sliding in Beijing, Nanjing and Guangzhou.

Figures show just 96 units being sold every day in Beijing for the first seven days of the month, a big dip from the same period last year. And it was equally bleak in Nanjing and Guangzhou. For Nanjing, only 128 units were snapped up for the entire period from October the 1st to the 5th.

Market analysts say that continued rises in house prices are putting a curb on buyer action. Many are holding out to see what direction prices will take in the months ahead.