China's home prices see slower growth in May

BEIJING, June 15 (Xinhua) -- China's housing market reported narrowed growth last month, official data showed Thursday.

In May, 46 out of 70 large and medium-sized cities saw month-on-month increases in new home prices, down from 62 in April, according to the National Bureau of Statistics.

New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen, and Guangzhou -- went up 0.1 percent in May, down 0.3 percentage points from that in April.

In 31 second-tier cities, prices of new homes gained 0.2 percent, shrinking from the 0.4-percent increase a month earlier. Prices of new housing in 35 third-tier cities came in flat.