Jun
19

China May Home Prices Rise in Fewer Cities Amid Slower Sales

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  • New-home prices gained in 60 cities in May versus 65 in April
  • Average new-home price growth slows first time since October

China’s home prices rose in fewer cities last month in a sign that a recovery in values is easing.

New-home prices excluding government-subsidized housing climbed in 60 cities in May, down from 65 in April, among the 70 tracked, the National Bureau of Statistics said Saturday. Prices dropped in four cities, compared with five a month earlier, and were unchanged in six.

The recovery in home prices abated as local governments put curbs in top economic centers like Shanghai and Shenzhen where prices have been surging, while they deployed home-buying stimulus in smaller cities to clear a glut of unsold residences. Overall sales climbed at the slowest pace this year, and property investment slowed, indicating developers are cautious about how long the current revival will last, UBS Group AG chief China economist Wang Tao wrote in a June 16 report…

China May Home Prices Rise in Fewer Cities Amid Slower Sales

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