China Home Prices Resume Decline After Five-Month Stabilization
China’s real estate downturn is stifling a recovery in the world’s second-largest economy, fueling expectations for the government to take more steps to revive demand.
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China’s home prices dropped for the first time this year in June, underscoring mounting challenges to prop up a key engine of the economy.
New-home prices in 70 cities, excluding state-subsidized housing, fell 0.06% last month from May, when they climbed 0.1%, National Bureau of Statistics figures showed Saturday. Prices declined 0.44% in the secondary market, according to the data.