In May 2024, sales prices for commodity residences in various cities on the mainland continued to adjust. Wang Zhonghua, Chief Statistician of the Urban Department of the National Bureau of Statistics, interpreted the statistics on changes in sales prices of commodity residences in May 2024, stating that in May 2024, sales prices of commodity residences in various cities along the lines in 70 large and medium-sized cities fell month-on-month and declined slightly year-on-year.

In May, the sales prices of newly-built commodity residences in first-tier cities fell by 0.7% month-on-month, an increase of 0.1 percentage point compared to the previous month. Among them, Beijing, Guangzhou and Shenzhen decreased by 1.1%, 1.4%, and 0.8%, respectively, while Shanghai increased by 0.6%. The sales prices of newly-built commodity residences in second and third-tier cities fell by 0.7% and 0.8% month-on-month, respectively, with the decline being 0.2 percentage points larger than the previous month. The sales prices of newly-built commodity residences in first-tier cities fell by 3.2% year-on-year, with the decline being 0.7 percentage points larger than the previous month. Among them, Beijing, Guangzhou and Shenzhen decreased by 1.8%, 8.3%, and 7.4%, respectively, while Shanghai increased by 4.5%. The sales prices of newly-built commodity residences in second and third-tier cities fell by 3.7% and 4.9% year-on-year, respectively, with the decline being 0.8 and 0.7 percentage points larger than the previous month.

In May, the sales prices of second-hand residences in first-tier cities fell by 1.2% month-on-month, an increase of 0.1 percentage point compared to the previous month. Among them, Beijing, Shanghai, Guangzhou and Shenzhen decreased by 1.2%, 1.3%, 1.6% and 1.0% respectively. The sales prices of second-hand residences in second-tier cities fell by 1.0% month-on-month, an increase of 0.1 percentage point compared to the previous month. The sales prices of second-hand residences in third-tier cities fell by 0.9% month-on-month, the same as the previous month. The sales prices of second-hand residences in first-tier cities fell by 9.3% year-on-year, an increase of 0.8 percentage point compared to the previous month. Among them, Beijing, Shanghai, Guangzhou and Shenzhen decreased by 8.6%, 7.9%, 11.4%, and 9.2%, respectively. The sales prices of second-hand residences in second and third-tier cities fell by 7.5% and 7.3% year-on-year, respectively, with the decline being 0.7 percentage points larger than the previous month.