As economic growth slows, China’s new house prices stayed flat in June, the poorest performance of the year, pressuring government authorities to help.

Developers defaulting on payments and suspending pre-sold housing project building hurt the property industry, which contributes for 25% of the nation’s GDP, in 2017.

Over the last year, federal, state, and municipal governments and regulators have funded developers and offered homebuyer incentives.

The uncertain economic future and industrial instability have hurt consumer confidence and home demand, making a speedy rebound unlikely.

Policymakers must boost real estate and demand due to falling property values and exports.

Markets expect further stimulus ahead of a Politburo meeting at the end of the month to outline second-half economic objectives.

Zhuge House Hunter expert Chen Xiao advised boosting employment and income measures to boost homebuying.

Tier-one cities like Beijing and tier-two cities were constant after rising in May, while tier-three cities dropped 0.1%.

The PBOC has hinted at future property policy easing, and a November rescue package for the cash-strapped industry has been extended until 2024.