CRI听力:China Home Prices Fall in March

The latest numbers from the National Bureau of Statistics show that China's real estate market remained weak in March.

Of 70 large and medium-sized cities surveyed by the bureau, some 50 of them registered a drop in monthly new home prices.

New home prices were flat in eight cities including Shanghai and Haikou.

12 cities like Beijing saw prices up from February.

For existing homes, 48 cities saw price declines in March from the previous month and 10 reported flat prices.

Niu Li is an economist with the State Information Center.

"There is unlikely any possibility for a sharp rise in housing prices. For a medium term, the purchasing power of our people is increasing. With home prices returning to a more reasonable level and the market being regulated, the property market will be more rational and normal."

Niu says home prices will be more stable and the general trend for stabalization of the market in the medium-term is unlikely to change.