The figures suggest the effects of a stimulus blitz last September is wearing off. A truce on US tariffs has done little for the world’s second-largest economy as falling prices erode corporate profits and employee incomes. That has led to suppressed demand for housing purchases, which policymakers are struggling to rekindle.
China's new-home prices fell the most in seven months in May, underscoring why senior government officials are renewing pledges to revive the property market.
New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.22% from April, when they slid 0.12%, National Bureau of Statistics figures showed Monday. Values of used homes fell 0.5%, the sharpest decline in eight months.
