Housing sale prices drop in most cities

Residential housing sale prices dropped in the majority of Chinese cities in May, data from the National Bureau of Statistics showed.

In May, out of the 70 cities monitored by the NBS, 43 cities saw a month-on-month drop, 21 were stable and six saw an increase.

Compared to April, more cities saw a price increase and fewer cities could maintain the same price level.

In April, 43 cities' sale prices saw a drop, 24 were stable and three saw an increase.

Meanwhile, a record number of cities saw a year-on-year price drop in May. Fifty-five cities had a year-on-year price drop, compared to 46 in April.

zhengyangpeng@chinadaily.com.cn