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China Real Estate Index System(CREIS)

China’s home prices inch down in May: surveys

BEIJING: China's home prices fell slightly in May from the previous month, two private surveys showed on Sunday, adding to fresh signs of cooling in a property market that has become a persistent drag on the broader economy in recent months. Prices of new homes in 288 cities fell 0.03 percent in May from April, marking the second month-on-month drop in a row, a poll by real estate services firm E-House China Holdings Ltd showed. Compared to the same period a year ago, home prices rose 5.8 percent in May, easing from a rise…