China's April new home prices fall at slowest monthly pace in a year

China's new home prices fell at the slowest monthly pace in a year, with a 0.1% decline in April from the previous month. This marks a narrowing from a 0.2% drop in March and the slowest decline since April last year. On an annual basis, prices fell 3.5%, compared with a 3.4% decline in March, marking the steepest drop in 11 months. New home prices in tier-one cities rose 0.1% month-on-month, while prices in tier-two and tier-three cities fell 0.1% and 0.3%, respectively.