Less cities report home price growth in May

Less cities have seen month-on-month decline in prices of both new homes and second-hand homes, according to the National Bureau of Statistics (NBS) on Saturday.

The NBS said in a statement on its website that month-on-month price growth for new commercial homes were reported in 50 of out of the NBS's statistical pool of 70 major cities, compared to 56 cities reporting month-on-month growth in April.

New home prices declined from a month ago in nine cities and stood unchanged in 11 cities, while 27 cities posted smaller monthly price gains, said the NBS.

As for resold housing units, 23 cities reported second-hand home price declines month-on-month in May, up from 16 in April. Second-hand home prices stayed unchanged in 11 major cities in May from April, according to the NBS.

Source:Xinhua
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