Jun 15, 2023 08:06 PM

ECONOMY

China Home-Price Growth Weakens as Housing Recovery Falters

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Residential buildings under construction in Zhengzhou, Henan province on June 7. Photo: Bloomberg

Residential buildings under construction in Zhengzhou, Henan province on June 7. Photo: Bloomberg

(Bloomberg) — China’s home prices grew at the slowest pace in four months in May, underscoring the challenges the market is facing as economic growth loses momentum.

New-home prices in 70 cities, excluding state-subsidized housing, increased 0.1% last month from April, when they grew 0.32%, National Bureau of Statistics figures showed Thursday. Prices declined 0.23% in the secondary market, snapping three months of gains.

　

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