China’s Home Sales Drought Persists During May Lockdowns
(Bloomberg) ― China’s home sales slump persisted in May as Covid outbreaks in key cities overshadowed efforts to revive buyer confidence.
New-home sales plummeted 59% in May from a year earlier for China’s 100 biggest real estate developers, according to preliminary data from China Real Estate Information Corp. The drop matched April’s decline as the biggest this year.
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