Apr 02, 2024 04:07 AM

ECONOMY

China Home Sales Drought Persists with Little Recovery Sign

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New home sales drop 46% in March from year earlier

New home sales drop 46% in March from year earlier

(Bloomberg) — China’s home sales slump dragged on in March, signaling a much-hoped turnaround for the sector isn’t in sight yet.

The value of new-home sales from the 100 biggest real estate companies slid about 46% from a year earlier to 358 billion yuan ($49.6 billion), following a 60% decline in February, according to preliminary data from China Real Estate Information Corp.

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