China’s Home Price Growth Slows as Housing Rebound Fizzles

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China’s property sector is key for the economic growth outlook this year, as it accounts for about 20% of the country’s gross domestic product after including related industries. Photo: Bloomberg

(Bloomberg) — China’s home price growth slowed in April, underscoring the challenges the market is facing following a brief recovery.

New-home prices in 70 cities, excluding state-subsidized housing, rose 0.32% last month from March, when they grew .44%, National Bureau of Statistics figures showed Wednesday. Price gains slowed to just 0.01% in the secondary market, after climbing 0.26% a month earlier.