China new home prices fall 3.3% YoY in June slowdown

China's new home prices fell at a slightly slower pace in June, offering a marginal sign of stabilization in a property market that has been in decline for nearly three years. According to data released on July 15, 2026, by the National Bureau of Statistics, new home prices across 70 major cities fell 3.3% year-on-year last month, a modest improvement from the 3.5% decline recorded in May. On a monthly basis, prices slipped 0.1% in June, compared to a 0.2% fall the previous month.

This marks the 35th consecutive month of annual price declines, but the deceleration in both monthly and yearly drops suggests the pace of deterioration may be easing. Among the 70 cities tracked, 20 saw month-on-month price increases in June, up from 16 in May and representing the highest level since May of last year. In first-tier cities, new home prices rose by an average of 0.1% month-on-month, extending a four-month rebound. However, on an annual basis, prices in these key markets were still down an average of 1.3%, though the decline narrowed from May. Shanghai was the only first-tier city to record a year-on-year increase, with prices up 3.1%. Beijing, Guangzhou, and Shenzhen all saw annual...