Economics
China May Home Sales Decline 11% on Weak Buying Sentiment
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China’s home sales fell 11 percent in May from a year earlier amid slowing demand even after the central bank ordered easing of mortgage lending.
The value of homes sold declined to 446.1 billion yuan ($72 billion) from 503 billion yuan in the same month in 2013, according to the difference between National Statistics Bureau data for the first half of the year and the first five months. The value of sales from January to May fell 10.2 percent to 1.97 trillion yuan from a year earlier, the data showed.