China Home Sales Grow at Slowest Pace in Almost Three Years
- Sales increased 3.8% in August, slowest since November 2014
- Property investment growth rebounded to 7.8% from 4.8% in July
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China’s home sales last month grew at the slowest pace in almost three years amid regulatory moves to rein in prices.
The value of new homes sold rose 3.8 percent to 807 billion yuan ($123 billion) in August from a year earlier, according to Bloomberg calculations based on data released Thursday by the National Bureau of Statistics. That compares with a 4.3 percent jump a month earlier, and is the slowest increase since November 2014.