China Home Prices Fall 0.2% in May as Resale Declines Deepen to 0.26%
Updated
Updated · Bloomberg · Jun 22
China Home Prices Fall 0.2% in May as Resale Declines Deepen to 0.26%
3 articles · Updated · Bloomberg · Jun 22
Summary
China’s housing downturn worsened in May, with new-home prices in 70 cities falling 0.2% from April after a 0.19% drop a month earlier.
Resale home values — a less policy-distorted gauge of demand — slid 0.26%, the steepest monthly decline in three months, according to National Bureau of Statistics data.
The faster declines interrupted the early-year green shoots that had lifted hopes the property market was beginning to stabilize.
The setback underscores how fragile China’s housing revival remains even after months of efforts to support the sector.