House prices cool, sales plummet

The cost of homes in major cities continues to rise, but the growth rate may slow, Hu Yuanyuan reports

Zheng Peng, a 28-year-old company executive in Beijing, is sitting on pins and needles these days. Any news about home prices makes him nervous.

He bought a one-bedroom apartment outside Beijing's North Fifth Ring Road in early March - a time of the year when buyers can usually get a good bargain. But this year, things are a bit different. After Zheng made his purchase, an increasing number of reports said China's real estate market was showing signs of cooling.