China Home Sales Decline Slows in October Amid Policy Support
Residential buildings under construction at the Tao Yuan Tian Jing project, developed by China Evergrande Group, in Yangzhou, China.
Source: Bloomberg
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The decline of China’s home sales slowed in October, following stepped-up efforts from Beijing to support the housing sector.
The value of new home sales among the 100 biggest real estate companies fell 27.5% from a year earlier to 406.7 billion yuan ($55.6 billion), narrowing from a 29.2% decline in September, according to preliminary data from China Real Estate Information Corp. on Tuesday. Sales gained 0.6% on month.