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
Fri, Jun 19, 2015 - 5:50 AM
Official data last week showed residential inventory in May was 21.9 per cent higher than a year ago.
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.