China Home Price Decline Eases in Boost for Recovery Hopes

Home prices in China are still falling but the pace of the decline is now at its slowest in around a year, fueling hopes that the long beleaguered market may finally be nearing a bottom.

New-home prices in 70 cities dropped 0.21% in March, the second consecutive month of easing pressure and the smallest decline in 11 months, figures from the National Bureau of Statistics showed on Thursday. Resale home values slid 0.24%, their smallest decrease in a year.