BEIJING, July 18 Average new home prices in
China's 70 major cities dropped 0.5 percent in June from May,
marking the second consecutive monthly drop following May's drop
of 0.2 percent, according to Reuters calculations from official
data published on Friday.
Compared with a year ago, home prices rose 4.2 percent in
June, easing from the previous month's 5.6 percent rise,
according to Reuters calculations.
The National Bureau of Statistics said new home prices in
Beijing rose 6.4 percent in June compared with a year earlier,
compared with May's increase of 7.7 percent. They rose just 0.1
percent from May.
Shanghai's home prices were up 7.0 percent in June from a
year ago, versus 9.6 percent in May. They fell 0.6 percent from
May, the second month-on-month fall in a row.
After a strong performance in 2013, China's real estate
market has softened as sales have slowed and banks have become
increasingly cautious about lending to developers and
(Reporting By Xiaoyi Shao and Kevin Yao; Editing by Jason