China’s Holiday Housing Sales Fall 22% Short of Pre-Covid Levels

While travel returned to pre-pandemic levels, new home sales from April 29 to May 3 were down 22% from 2019, the year before Covid emerged, based on data from 40 cities. That signaled a still-sluggish housing market, industry experts said.

Sales volume in the 40 cities came to 1.073 million square meters in the five days, up 25% from the Covid-depressed level of a year earlier, according to real estate research firm China Index Academy.