Real estate reaches for new highs

A period of cooling home prices is expected in second half of year, think tank report says

China's housing sales are expected to reach a record high in 2016, though the growth of real estate investment may slow, said a report by a research group of the Chinese Academy of Social Sciences.

After a short-term slump, China's real estate market has been rising since mid-2015, heating up rapidly in the first quarter this year.