New home prices in China barely moved downward in January for the fifth straight month, signaling the start of stability in pricing, Bloomberg News reported Wednesday.

Prices of new homes in 70 cities declined 0.07% in January, slower than the 0.08% fall seen in December 2024, according to data from the National Bureau of Statistics.

Second-hand home prices declined 0.34% in January compared with 0.31% in December, the report said.

The narrower decline could be seen as a sign of hope for the struggling property sector, the report said.

However, China will need a solid rebound in prices to put a floor to declining prices, Bloomberg reported, citing a note by Fitch Ratings.

Other analysts are turning "less bearish on the sector" from February with better-than-expected home sales from the beginning of January and an increase in homebuyer visits, the report said, citing analysts at Citigroup.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)