New home prices in China edged down in June from the previous month, marking a second straight month of declines, and housing sales are likely to remain weak over the summer when demand is usually at a low ebb, according to a private survey.
The average price of new homes in 100 cities fell 0.01% in June, the same-sized decline that was seen in May, data from the China Index Academy showed on Saturday.For the first half of the year, average prices were up 0.01% from the same period a year earlier.
"In the second quarter, the pace of market recovery slowed and there was not enough momentum for prices to rise," it added.
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