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China home prices up in May for first time in 13 months
But massive inventories of unsold homes could continue to drag on economy well into next year, say economists
Add BT as a preferred sourcePublished Thu, Jun 18, 2015 · 09:50 PM
Hong Kong
NEW home prices in China rebounded nationwide for the first time in 13 months in May, suggesting a property downturn is bottoming out after a barrage of stimulus from the central bank and local governments since late last year.
Economists, however, warned that massive inventories of unsold homes could continue to drag on the world's second-largest economy well into next year, discouraging new investment and construction.
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