China’s Home Sales Drop for a Third Month as Slowdown Deepens
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China’s home sales tumbled for a third straight month in August, underscoring the need for policymakers to step up efforts to address a slowdown that’s weighing on the world’s second-largest economy.
The value of new home sales by the 100 biggest real estate companies fell 33.9% from a year earlier to 343 billion yuan ($47.2 billion), according to preliminary data from China Real Estate Information Corp. Sales slid 1.3% month on month.