China's new home prices fell at the fastest pace in nearly a decade in May 2024, despite the government's efforts to support the property market. Official data from the National Bureau of Statistics showed that new home prices dropped 0.71% month-on-month, the largest decline since October 2014. Existing home prices also saw a significant decrease of 1% month-on-month, marking the sharpest fall since at least 2011. On a year-on-year basis, new home prices fell by 3.9%, the steepest decline since June 2015. The decline in home prices was observed across major cities, including Beijing, Shanghai, Guangzhou, and Shenzhen. This downturn in the housing market comes as China grapples with a broader economic slowdown and a prolonged property crisis. Home prices have fallen for 34 straight months, while property investment has declined for the 26th consecutive month.
"The property market continued to stumble," said @ChinaBeigeBook's May Flash data. The home builders surveys (proxy for new homes) showed both lower prices and slower transaction volumes compared to a year-ago. https://t.co/y04nwT55KR https://t.co/sbVhzFwux8
"China's new home prices fell at the fastest pace in more than 9-1/2 years in May..In annual terms, new home prices were down 3.9% from a year earlier, compared with a 3.1% slide in April." https://t.co/sRO3zJvxKr
Shenzhen’s Popular School District Housing Price Drops by 71% China's second-hand housing market is an important "real estate market indicator," but recently, the prices of second-hand houses in 70 large and medium-sized cities across the country have plummeted. A popular school… https://t.co/5unYKW5kT6
Shenzhen’s Popular School District Housing Price Drops from by 71% China's second-hand housing market is an important "real estate market indicator," but recently, the prices of second-hand houses in 70 large and medium-sized cities across the country have plummeted. A popular… https://t.co/XJCaohloLr
China's New Home Prices Plunge The Most Since October 2014 https://t.co/If1jRrGkdp
CHINA: Prices of new homes have dropped by 3.9% over the past year, quickest decline since 2015.
China new home prices fall at fastest rate in nearly 10 years; French political uncertainty weighs on markets – as it happened https://t.co/aEgQ3wOL5J
Hard for China's housing market to get even worse. But few signs of any rebound. https://t.co/0sCriy0Gvr
China's Housing Prices Accelerate Downward, New Home Prices Drop at Fastest Rate in 10 Years Official data shows that the drop in China's new home prices in May was the largest in nearly a decade, indicating that despite efforts by the CCP to support the housing market, the real… https://t.co/BCZZSZSIzE
China’s Housing Market Woes Deepen Despite Stimulus—Home prices declined at a faster pace in May in big cities, while other data show a mixed picture for the world’s second-largest economy @RebeccaYFeng @wsj_douglasj @TByGraceZhu https://t.co/MMKbsgVI83 https://t.co/MMKbsgVI83
CHINA HOME PRICES “China’s new home prices in 70 cities decreased by 3.9% year-on-year in May 2024, the most since June 2015 and worse than the 3.1% decline in April. This was the 11th consecutive month of decline, despite China unveiling a broad real estate rescue package last… https://t.co/h68PJ98blh
“New-home prices in 70 cities, excl state-subsidized housing, slid 0.71% from April, the most since October 2014. Values of existing homes dropped 1%, the sharpest decline since at least 2011 when China started using the current data collection method.” https://t.co/YAZXBJQyWz
The real estate #recession in #China shows no signs of abating. Property investment declined more than 10% from a year ago. May marked the 26th(!) consecutive month in which property investment declined. Home prices have fallen for 34 straight months, and the pace of depreciation… https://t.co/rTigAP9Sts
China new home prices drop at fastest rate in nearly a decade https://t.co/oOZvaKCEN0
1/8 "Has China’s property market hit bottom?" Bloomberg asks. "Not quite yet, according to May data, and to the National Bureau of Statistics, which said easing measures will need more time to take effect." https://t.co/u3sD5CxTKa via @markets
New home prices in China are down for the 12th straight month https://t.co/I5oL9zxeF7
China's housing market slump continues to deepen. https://t.co/bZqVgypUaG
The economy of China continues to grapple with its property crisis https://t.co/Si32uScc4n
BREAKING 🚨 : Chinese Real Estate China's Existing Home Sales declined 1% in May (month over month), the largest decline in AT LEAST 13 years https://t.co/toQaKPc8tU
China’s new-home prices fell at a faster pace in May, as the country’s most forceful efforts to support the property market were slow to revive demand. https://t.co/3tWYjdNUp4
China’s housing slump deepened in May and triggered new calls for stimulus https://t.co/pl6Er18aWe
China new home prices fall at fastest clip in nearly 10 years - Reuters https://t.co/6X1vlB97vV
Major Chinese cities saw falling home prices in May, official data showed on Monday. #XinhuaNews https://t.co/t9fKEtlNnd
China new home prices fall at fastest rate in nearly 10 years; French political uncertainty weighs on markets – business live https://t.co/DSF7pQenlT
New home prices in China’s first-tier cities -- Beijing, Shanghai, Guangzhou and Shenzhen -- fell 0.7% in May from April, while those in second- and third-tier cities inched down 0.7% and 0.8%, respectively, the NBS said. Second-hand home prices in first-tier cities dropped 1.2%… https://t.co/DiBn6detOD
CHINA’S NEW HOME PRICES IN MAY SAW SHARPEST FALL IN NEARLY 10 YEARS DESPITE RESCUE PACKAGE PRICES OF NEW HOMES IN 70 MEDIUM AND LARGE CITIES FELL 0.7 PER CENT MONTH ON MONTH IN MAY, THE MOST SINCE A 0.8 PER CENT DECLINE IN OCTOBER 2014-SCMP
Update: China reports falling home prices in May. 70 large and medium-sized cities record month-on-month declines in both new and second-hand home prices: National Bureau of Statistics (NBS) https://t.co/wi5fC35Qwt https://t.co/1yibJbPT1m
Bloomberg: "New-home prices in 70 cities slid 0.71% from April, the most since October 2014. Values of existing homes dropped 1%, the sharpest decline since at least 2011 when China started using the current data collection method." https://t.co/khC6N6HUZD via @markets
#China’s home prices fell at a faster pace in May, as the country’s most forceful efforts to support the property #market took time to revive demand. https://t.co/a98Nyz0kuU
China new home prices fall at fastest clip in nearly 10 years. #property #realestate https://t.co/oeTcP73aoK
BREAKING 🚨: Chinese Real Estate China's Existing Home Sales declined 1% in May (month over month), the largest decline in AT LEAST 13 years https://t.co/dDWdkOvgtP
In the meantime, #China's new #home prices fell at fastest pace in more than 9 years in May. https://t.co/haGgRmRP6L https://t.co/RUyjRCYqWD
Major Chinese cities reported falling home prices in May, official data showed on Monday. https://t.co/ZCPQJC8qlE https://t.co/Q3IpMSNFXN
China new home prices fall at fastest clip in nearly 10 years https://t.co/hikMRnkPhU https://t.co/N4ghjftvgs
China’s home prices fell at a faster pace in May, despite the country’s most forceful efforts to support the property market https://t.co/lYwnfZgihu
CHINA NEW HOME PRICES (M/M) MAY: -0.71% (PREV -0.58%) -CHINA USED HOME PRICES (M/M) MAY: -1.00% (PREV -0.94%)
🇨🇳#CHINA'S MAY NEW HOME PRICES ARE DOWN 0.71% M/M(Prev. -0.58%), AND EXISTING HOME PRICES DROPPED 1% M/M(Prev. -0.94%), BOTH DROP FASTER THAN IN APRIL.
*CHINA MAY NEW HOME PRICES -0.71% M/M; DROP FASTER THAN APRIL *CHINA MAY USED HOME PRICES -1% M/M; DROP FASTER THAN APRIL
China May new home prices -0.7% m/m and -3.9% y/y https://t.co/TiA5z0So3d
⚡#CHINA'S MAY NEW HOME PRICES ARE DOWN 0.58% M/M, AND EXISTING HOME PRICES DROPPED 1% M/M, BOTH DROP FASTER THAN IN APRIL.
China New Home Prices (M/M) May: -0.71% (prev -0.58%) - Used Home Prices (M/M) May: -1.00% (prev -0.94%)
CHINESE NEW HOUSE PRICES YOY ACTUAL -3.9% (FORECAST -, PREVIOUS -3.1%) $MACRO