BEIJING, June 1 Reuters China39;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 monthonmonth in May from 0.02 growth the previous month, according to survey data from the China Index Academy on Thursday.

Home sales by value by property developers fell 18.8 from a month earlier, the independent real estate research firm said in a separate statement on Wednesday.

The real estate market was under greater adjustment pressure and homebuyers39; sentiment continued to fall in May, said the firm.

The property sector gained a boost from the lifting of tough COVID curbs in December, low mortgage interest rates and a slew of policy support measures.

Demand, however, remains bleak in small cities as consumers are still cautious about big ticket spending amid concerns over incomes and jobs as a postpandemic economic recovery loses steam.

Among 100 cities surveyed by the firm, 29 cities reported a rise in home prices in monthly terms.

We see no sign of a new round of big easingstimulus for the property sector yet, even markets have been increasingly worried about the weakness of the property markets and its spillover effect, said Nomura in a research note on Thursday.

These bearish property market data will likely further weigh on Chinarelated assets in the next couple of…