China’s home prices fell at a faster pace in May, as the country’s most forceful efforts to support the property market took time to revive demand. New-home prices in 70 cities, excluding state-subsidized housing, slid 0.71% from April, the most since October 2014, National Bureau of Statistics figures showed Monday. Values of existing homes dropped 1%, the sharpest decline since at least 2011 when China started using the current data collection method. China last month unveiled a broad real estate rescue package to address the biggest cloud over China’s economy, relaxing mortgage rules and encouraging local ... (full story)