Chinese Home Prices Unchanged in June

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By Trey Thoelcke Published
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The latest survey by China’s National Bureau of Statistics indicated that average home prices in 70 Chinese cities were unchanged in June from May. That ended eight straight months of declines and suggests that the real estate market in the People’s Republic may have bottomed out.

New home prices in just 21 major cities fell during June, compared to 43 cities that reported month-on-month declines in May and April. The survey also showed that prices in some cities rose as the number of transactions increased following interest-rate cuts and government efforts to boost sales and stimulate the economy.

Premier Wen Jiabao and other government officials have pledged to keep residential property prices from rebounding.

Hong Kong’s Hang Seng closed 1.11% lower Wednesday on concerns about HSBC (NYSE: HBC). China’s Shanghai Composite Index ended 0.3.7% higher on expectations for policy easing.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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