Realty prices continue recovery

New home prices in Chinese cities rose month-on-month in July for the third straight month, a private survey showed on Friday, reinforcing the upward trajectory since the second quarter.

Despite being a traditionally slack season, average home price in 100 cities rose by 0.54 percent month-on-month in July to 10,685 yuan ($1,715) per square meter, slightly slower than the 0.56 percent gain in June, the China Index Academy, a research unit of SouFun Holdings Ltd, said in a report.

The academy data showed new home prices strengthened from June in 46 of the 100 cities it monitored, down from 53 a month earlier, while the number of cities that saw declines rose to 53 from 46 in June.