The government is doing everything they can stop it, but home prices are indeed falling [1]. A 2.2% decline doesn't sound like much, but it's wild given the strong GDP growth over the same period.
I wouldn't take much credence in reported GDP growth. Tearing down a building that was built last year creates reported GDP. Also, you really really need to look at volume, since the party will just cut off sales if they have to (since they control the real estate agencies).
https://www.reuters.com/world/china/chinas-new-home-prices-d...