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Sales of existing homes rebound after 9-month slump
By Cao Qian |
July 5, 2012, Thursday
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Online Edition
Online Edition
SHANGHAI'S existing housing index climbed in June for the first time in nine months.
The index, which monitors price variations of previously-occupied homes, rose 4 points, or 0.16 percent, from May to 2,579 last month, the Shanghai Existing Index Office said today.
Prior to June, the index stayed unchanged in May after heading south for seven straight months.
"Sales of existing homes soared to the highest in 17 months in June amid notably recovering sentiment among buyers," said Lu Bei, an analyst at the office. "Home prices climbed in most residential areas though their growth was rather mild."
Across the city, the average price of 103 of the 128 areas monitored by the office edged up 0.25 percent on average last month while that in 21 areas dropped 0.25 percent from May and four areas remained flat in prices, according to the office.
The index, which monitors price variations of previously-occupied homes, rose 4 points, or 0.16 percent, from May to 2,579 last month, the Shanghai Existing Index Office said today.
Prior to June, the index stayed unchanged in May after heading south for seven straight months.
"Sales of existing homes soared to the highest in 17 months in June amid notably recovering sentiment among buyers," said Lu Bei, an analyst at the office. "Home prices climbed in most residential areas though their growth was rather mild."
Across the city, the average price of 103 of the 128 areas monitored by the office edged up 0.25 percent on average last month while that in 21 areas dropped 0.25 percent from May and four areas remained flat in prices, according to the office.
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