China’s October Home Sales Drop Again

What’s new: China’s home sales declined again in October as the slowing economy and ongoing Covid-19 outbreaks dampened homebuying demand.

In the 10 months from January through October, national home sales dropped 25.6% in terms of square meters and 28.2% in terms of value, the National Bureau of Statistics said Tuesday. The sales area declined by 23.2% year-on-year and sales value dropped by 23.7% in October.