China reports falling home prices in July

BEIJING, Aug. 15 (Xinhua) -- Major Chinese cities reported falling home prices in July compared with the previous month, data from the National Bureau of Statistics (NBS) showed on Thursday.

On a yearly basis, the decrease of China's home prices expanded slightly overall, the NBS said.

The year-on-year decline in the sales prices of second-hand residential properties in first-tier cities continued to narrow last month, it added.