BEIJING, June 18 Average new home prices in
China's 70 major cities rose 5.6 percent in May from a year
earlier, easing from the previous month's 6.7 percent rise,
according to Reuters calculations from official data published
It was the slowest annual rise in 13 months.
In month-on-month terms, prices dropped 0.2 percent in May,
breaking a 19-month run of monthly rises.
The National Bureau of Statistics said new home prices in
Beijing rose 7.7 percent in May from a year earlier, compared
with April's increase of 8.9 percent.
Shanghai's home prices were up 9.6 percent in May from a
year ago, versus 11.5 percent growth in April.
The property market has lost momentum since late 2013 after
an extended campaign by authorities to rein in rapid price
growth, including tighter controls on speculative buying and
tougher lending conditions.
(Reporting By Xiaoyi Shao and Koh Gui Qing; Editing by Eric