China Big-city Home Sales Stabilize: Journal

Home sales in key cities saw a more obvious increase from last month, with the figure in four first-tier cities rising by 12% in March from February, showing some signs of stabilization following the relaxation on mortgage loans, the China Securities Journal reported. However, housing markets in smaller cities still face sharp declines from the same period last year, the newspaper said. On the whole, the market remains muted as home buyers lack confidence and the repeated epidemics have further dragged down the pace of recovery, the newspaper said citing Chen Wenjing, an analyst at China Index Academy.