China’s Housing Sales by Top Developers Slow as Rebound Falters

00:00

00:00/00:00

Listen to this article 1x

Signs of weakness are emerging in the residential market after sales and prices rebounded briefly following a historic year-and-a-half slump

(Bloomberg) — China’s housing sales growth slowed in May following a brief rebound, underscoring weakening momentum in the economy.

The value of new home sales by the 100 biggest real estate developers rose 6.7% to 485.4 billion yuan ($68.3 billion) from a year earlier, according to preliminary data from China Real Estate Information Corp. That compares with gains of more than 29% in the previous two months. Sales fell 14.3% month-on-month.