China's May home prices up 0.7% month on month, touch ahead of April; rise 10.7% year on year

BEIJING (Reuters) - China's new home prices rose 0.7% month-on-month in May, picking up the pace slightly from a 0.6% gain the previous month, Reuters calculated from National Bureau of Statistics (NBS) data published on Tuesday. On a yearly basis, average new home prices in China's 70 major cities increased 10.7% in May, unchanged from the growth rate in April. China's real estate market has shown signs of resurgence in recent months as some smaller cities quietly loosened curbs, and confidence..