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China Home Sales Fall in Jan-Feb as Local Curbs Dent Demand

China’s home sales fell in the first two months of the year as local government property measures to rein in rising prices weakened buyer sentiment.

The value of homes sold fell 5 percent to 598.5 billion yuan ($97.5 billion) from the same two months a year earlier, the National Bureau of Statistics said today. That compared with an almost doubling in sales in the first two months of 2013. The government doesn’t provide data for individual months and releases a compounded figure throughout the year.