Chinese home prices extended their run of declines in June, as Beijing struggles to resuscitate a real-estate market that was once a pillar of growth for the world's second-largest economy.
Average new home prices in 70 major Chinese cities dropped 4.9% from a year earlier in June, widening from the 4.3% fall recorded in May, according to calculations by The Wall Street Journal. The calculations are based on data from the National Bureau of Statistics released on Monday.
There were 68 cities reporting price declines in June compared with the same period a year ago, up from 67 cities in May.
On a monthly basis, new home prices fell 0.67% in June, compared with the 0.71% drop seen in May.
Out of the 70 cities, 64 registered home price drops in June when compared to the previous month, down from 68 cities in May.
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