BEIJING, July 1 (Reuters) – China’s resale home prices fell at a faster pace in June, a private survey showed on Wednesday, as the country’s prolonged property downturn continued to weigh on market confidence.
• Average resale home prices across 100 cities dropped 0.42% month-on-month in June, quickening from a 0.32% decline in May, according to China Index Academy, one of the country’s largest real estate data providers.
• New home prices rose 0.16% in June from a month earlier, matching May’s pace.
• Real estate policies in the second half of the year would likely continue to focus on both supply and demand-side support with near-term new-home sales still under pressure, the firm said.
(Reporting by Liangping Gao and Ryan Woo; Editing by Shri Navaratnam)
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