China’s New Home Sales Subdued Over Weeklong National Day Holiday

Chinese real estate developers’ sales of new homes slumped during the weeklong National Day holiday, though a bump in purchases of preowned properties showed there is still some life in the market, data from market intelligence providers showed.

The lackluster figures for what’s normally a busy time for the real estate business show that there’s been little letup in the debt and confidence crisis started last year, but inelastic demand is preventing the market from falling into deeper trouble.