Analysts see grounds for rebound in home sales

China's housing market apparently failed to make a comeback in the "golden sale week" following the central bank's latest credit easing policy. But brokerages and analysts are optimistic that a significant upswing will take place later this year.

From Oct 1-6, a traditionally busy season for the property market, the number of contracts recorded online in Beijing was 510 units, down 38.3 percent from the same period last year, according to Beijing's housing authority.

In Guangzhou, recorded contracted sales totaled 401 units, 43.9 percent fewer than a year earlier. And sales in second-tier cities such as Hangzhou in Zhejiang province and Suzhou in Jiangsu province posted even greater slumps.