A residential development project is under construction in Fuzhou, Fujian province, on April 17. ZHANG BIN/CHINA NEWS SERVICE
The traditional spring home-buying season, which typically peaks in March and April, stretched into May this year as policy support and targeted demand in first-tier cities drove a notable pickup in sales, helping to restore market expectations, experts said.
Data from the China Index Academy show that total new home sales of the country's top 100 real estate firms reached 1.23 trillion yuan ($181.89 billion) in the first five months, with the year-on-year decline narrowing for the third consecutive month.
In May alone, sales by those developers stood at 328.78 billion yuan, up 17.6 percent from April, according to the academy.
China's new home sales steadied in May, driven by a pickup in larger cities, even as the national market remained largely flat, market watchers said.
