Decline in home prices continues to level off

China's home-price decline continued to ease in December, as fewer cities saw falling prices, the National Bureau of Statistics said.

Prices of new homes dropped from the previous month in 65 of the 70 cities that the bureau tracks, according to its statement on Sunday. That compares with declines in 67 cities in November.

New home prices rose 1.2 percent in December in Shenzhen, the only city among the 70 that saw a month-on-month price increase. It is the first time in four months that an NBS-tracked city saw an increase.