China Home Price Gains Spread as Large Cities Lead Recovery

Declines in China’s new-home prices were restricted to fewer than half of the cities monitored for the first time in 15 months as sales extended a rebound after authorities cut interest rates and eased property curbs.

Prices declined in 33 of the 70 cities in June from a month earlier, compared with 41 in May, according to data released by the National Bureau of Statistics on Saturday. Twenty-seven recorded increases, seven more than in the previous month, as first-tier centers including Shenzhen and Shanghai led a rebound. Prices were unchanged in 10.