Home prices in top China cities stabilising in January
But nationwide rebound is unlikely in near term due to a massive overhang of unsold homes in lower-tier cities
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Hong Kong
AVERAGE new home prices in China's major cities fell for the ninth straight month in January but showed some signs of stabilising in the top cities in a small sign that the worst may be over for the ailing property sector.
Still, market watchers said that a nationwide rebound is unlikely in the near term due to a massive overhang of unsold homes - especially in the so-called "lower-tier" cities, where falls in new home prices accelerated last month.
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