China Home Sales Slump Persists After Evergrande Liquidation

(Bloomberg) — The sharp slowdown in China’s home sales dragged on in January despite policymakers stepping up efforts to arrest the slump.

The value of new home sales from the 100 biggest real estate companies slid 34.2% from a year earlier to 235 billion yuan ($33 billion), following a 34.6% decline in December, according to preliminary data from China Real Estate Information Corp. January’s sales were down 48% from the previous month, a record low in recent years.