Homebuyers in 'wait and see' mode as prices shake out

China's home price growth continued to ease in February, while turnover dropped significantly.

The first price report to be issued after last week's housing market tumble, which savaged real estate stocks, showed momentum has indeed slowed but also that the cooling didn't arrive precipitously and that a national crash is not on the horizon.

Month-on-month, new home price growth in 100 Chinese cities monitored by China Index Academy, a private institution affiliated with China's largest real estate website, rose 0.54 percent in February, compared with the 0.63 percent gain recorded in January.