No signs of home price rebound

Source: Xinhua | 2017-06-13

SHANGHAI’S pre-owned housing index climbed again last month but it didn’t necessarily suggest a price rebound, Shanghai Existing House Index Office said in a latest report.

The index, which monitors month-on-month price changes in 130 areas around the city, added 0.42 percent in May, up 0.25 percentage points from a month earlier.

“The insignificant increase in the monthly index was mainly due to a structural shift with more vibrant sales of existing houses in central areas than in outlying districts,” the office said.

It, however, does not expect “any clear signs for a major price recovery.”