China Home Sales Slump Persists in December Amid Covid Surge
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China’s home sales continued to slump in December, underscoring the challenge to reverse the property downturn amid Covid outbreaks.
The 100 biggest real estate developers saw new home sales drop 30.8% from a year earlier to 677.5 billion yuan ($98.2 billion) in December, according to preliminary data from China Real Estate Information Corp. That compared with a 25.5% decline in November.