China’s Home Prices Decline for 24th Month Despite Policy Support

The chronic housing slowdown comes at a time when a tariff war with the United States weighs on China’s factory output.

The aerial view shows residential buildings under construction by Chinese real estate developer Vanke in Hangzhou, in eastern Zhejiang Province, China, on March 15, 2024. STR/AFP via Getty Images

China’s official data showed on June 16 that new home prices fell in major Chinese cities in May, continuing a two-year-long trend of stagnation in the property sector.

The ongoing housing slowdown is occurring at a time when a trade war with the United States is impacting China’s factory output.