China home prices fall at faster pace in setback to revival

China home prices fall at faster pace in setback to revivalSign up now: Get ST's newsletters delivered to your inboxChina’s property downturn has weighed on the economy for almost five years, hampering efforts by officials to spur household spending and reduce reliance on exports. PHOTO: REUTERSPublished Jun 16, 2026, 11:01 AMUpdated Jun 16, 2026, 11:08 AMListenBEIJING - China’s home prices fell at a quicker pace in May, halting green shoots seen at the start of 2026 that had raised hopes of a recovery.New-home prices in 70 cities, excluding state-subsidised housing, dropped 0.

2 per cent from April when they slid 0.19 per cent, figures from the National Bureau of Statistics showed on June 16. Resale home values, which are subject to less government intervention, declined 0.

26 per cent, the most in three months. China’s property downturn has weighed on the economy for almost five years, hampering efforts by officials to spur household spending and reduce reliance on exports. While analysts at firms including Citigroup and Bank of America Corp.

have begun to assert that the sector is finally stabilising, others are doubtful. “Starting May, China’s home market is set to undergo a three-month test as it enters a traditionally slow season for sales,” Guo Zhen, an analyst at Guangfa Securities, wrote in a report last week. “It remains to be seen whether property sales in key cities can keep their momentum.”

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