Economics
China Home Prices Drop for Ninth Month as Demand Stays Weak
- Pace of decline slowed to 0.17% amid efforts to support market
- Pressure on some developers likely to remain as lockdowns end
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China’s home prices fell for a ninth month in May, signaling demand remains weak despite increased government support for the slumping property market.
New home prices in 70 cities, excluding state-subsidized housing, dropped 0.17% last month from April, when they slid 0.3%, National Bureau of Statistics figures showed Thursday.