China's Home Sales Reverse Declines for Biggest Gain in 5 Months

Sales grow 12.4% in value in November from a year earlier
Investment in real estate development gains a slower 4.6%

Residential apartment buildings stand in the Futian district of Shenzhen, China, on Wednesday, Sept. 20, 2017. China is on a city-by-city campaign to rein in house prices and limit the risk of bubbles.Photographer: Qilai Shen/Bloomberg

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By Bloomberg News

December 14, 2017 at 2:33 AM UTC

This article is for subscribers only.

China’s new home sales rebounded in November, climbing the most in five months.

Sales by value, excluding affordable housing, increased 12.4 percent from a year earlier to 1.02 trillion yuan ($151 billion), according to Bloomberg calculations based on data released Thursday by the National Bureau of Statistics. Sales fell the two previous months.