China’s Slump in Housing Sales Slows After Cities Ease Restrictions

(Bloomberg) — The downturn in China’s residential real estate sector slowed further in June, following the government’s efforts to put a floor under the housing market in some of its biggest cities. 

The value of new-home sales from the 100 biggest real estate companies dropped 17% from a year earlier to 439 billion yuan ($60 billion), compared with a 34% decline in May, according to preliminary data from China Real Estate Information Corp.