Average new home prices in 70 major mainland cities climbed 0.2% in May over the previous month, the first rise in over a year, Reuters reported, citing data released by the National Bureau of Statistics. While signs of price stabilization will ease economic strain and help banks with heavy exposure to real estate, analysts said a full recovery was a ways off. “Inventories in first-tier cities are back to healthy levels…but in third and fourth-tier cities it will take at least two more years,” said Rosealea Yao, an economist with Gavekal Dragonomics.
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