Jul 18, 2023 12:53 AM

ECONOMY

Chinese Pre-Owned Housing Prices Slide Again in June

By Niu Mujiangqu and Denise Jia

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Pre-owned homes displayed for sale at a real estate office in Chongqing on May 16, 2023.

Pre-owned homes displayed for sale at a real estate office in Chongqing on May 16, 2023.

The average price of pre-owned housing units across 70 Chinese cities continued to slide in June despite hundreds of government policies to prop up the sluggish real estate market.

In first-tier cities, average pre-owned home prices fell 0.7% from May, data published Monday by the National Bureau of Statistics showed. The decline was 0.3 percentage points sharper than the drop in May. Prices in second and third-tier cities dropped 0.4% last month.

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