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China’s new-home prices fell 0.19% in April from March, the smallest decline in a year, marking a third consecutive month of easing losses, according to National Bureau of Statistics data. Resale prices dropped 0.23%, the slowest pace since March 2025, suggesting early signs of stabilization in the property market. Analysts from Citi and Bank of America said improving sales momentum and policy easing across more than a dozen cities—including Shenzhen and Guangzhou—support expectations that the downturn may be bottoming. Local governments have relaxed homebuying restrictions and increased mortgage support following a Politburo pledge to stabilize the sector. However, analysts note that inventory normalization may still take about a year.