China June Home Sales Rise 24% as Buyers Defy Property Curbs

China’s home sales transaction value rose 24 percent in June from the previous month, the biggest monthly gain this year, signaling that the government’s latest property measures are failing to deter buyers.

The value of homes sold climbed to 624.4 billion yuan ($102 billion) last month from 503 billion yuan in May, based on the difference between the National Statistics Bureau’s data for the first half of the year and the first five months. The June value was almost the same value of the sales in the first two months of the year combined. Housing sales in the first six months rose 46 percent to 2.82 trillion yuan from a year earlier, according to the data.