China’s Home Price Slump Eases After Government Rescue Efforts

(Bloomberg) — China’s downturn in house prices abated slightly in July, a sign that the government’s most forceful efforts to revive the market are beginning to take hold.

New home prices in 70 cities, excluding state-subsidized housing, fell 0.65% from July, narrowing from a 0.67% decline a month earlier, according to the National Bureau of Statistics on Thursday. Values of existing homes dropped 0.8%, compared with a 0.85% slide a month earlier.