China New Home Prices Drop the Least in 4 Months

China’s new home prices across 70 cities fell 3.3% year-on-year in June 2026, easing from a 3.5% decline in the previous month. While marking the 36th consecutive month of annual declines, the latest result was the mildest contraction since February, suggesting that existing policy measures are helping stabilize the property market, though demand and confidence remain subdued. Among major cities, prices declined in Beijing (-2.1%, unchanged from May), Guangzhou (-2.6% vs. -3.3%), Shenzhen (-3.6% vs. -4.5%), Chongqing (-4.2% vs. -4.7%), and Tianjin (-4.6% vs. -4.7%). Meanwhile, Shanghai remained the standout performer, with home prices rising 3.1%, only slightly slower than May's 3.2% increase. On a monthly basis, new home prices edged down 0.1%, after a 0.2% fall in May.

China’s new home prices across 70 cities fell 3.5% year-on-year in May 2026, matching April’s pace. It marked the 35th straight month of decline and remained the steepest drop since May 2025, highlighting persistent weakness in the property sector. The data suggest that existing policy support has yet to revive housing demand or restore market confidence amid subdued buyer sentiment and excess housing supply. Among major cities, price declines persisted in Beijing (-2.1% vs -2.3% in April), Guangzhou (-3.3% vs -4.4%), Shenzhen (-4.5% vs -5.3%), Chongqing (-4.7% vs -4.8%), and Tianjin (-4.7% vs -5.1%). Meanwhile, prices in Shanghai rose more slowly (3.2% vs 3.7%). On a monthly basis, new home prices edged down 0.2%, after a 0.1% decrease in April.

China’s new home prices across 70 cities shrank 3.5% yoy in April 2026, following a 3.4% decline in the previous month. It marked the 34th consecutive month of contraction and the sharpest pace since May 2025, underscoring persistent weakness in the property sector. The data suggested that existing stimulus efforts have yet to generate a sustained recovery in housing demand and market confidence. Among major cities, price declines persisted in Beijing (-2.3% vs -2.1% in March), Guangzhou (-4.4% vs -4.7%), Shenzhen (-5.3% vs -5.5%), Chongqing (-4.8% vs -4.4%), and Tianjin (-5.1% vs -4.8%). In contrast, prices in Shanghai continued to rise (3.7% vs 3.7%). On a monthly basis, new home prices edged down 0.1%, after a 0.2% decrease in March, pointing to the mildest drop in a year.