China's new home prices fell for the first time in four months in May and home sales slumped, according to a private survey, adding to pressure on a property market which is struggling to stabilize from a sharp slump.
New home prices among 100 cities fell 0.01% month-on-month in May from 0.02% growth the previous month, according to survey data from the China Index Academy on Thursday.
"The real estate market was under greater adjustment pressure and homebuyers' sentiment continued to fall in May," said the firm.
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