China’s Home Sales Show Signs of Turning the Corner

China’s home sales picked up in June as the market showed signs of bottoming out, though short-term headwinds remain, a property industry consultancy said.

The total sales of 100 top real estate developers rose by 61.2% from the previous month to 733 billion yuan ($109.4 billion), far outpacing May’s 5.6% month-on-month increase, according to data released Thursday (link in Chinese) by China Real Estate Information Corp. (CRIC).