China's second-hand housing market recovers in May
China's second-hand housing market regained some lost ground last month as the country eases financing and restrictions for home buyers, according to a report by the Beike Research Institute.
In May, the sales volume of previously-owned homes in 50 cities rose by about 14 percent from a month ago, according to the report.
More than 80 percent of the cities surveyed recorded month-on-month upticks, while some cities in northeast China and the Yangtze River Delta region saw sales more than double, the report noted.
Prices of pre-owned homes, however, fell 0.9 percent from April in the 50 cities, widening from the 0.3-percent decline last month.
The report estimates sales volume to further expand and prices to stabilize in the second half of this year.