China Home Sales Slump Persists After Evergrande Liquidation
- China Jan new homes sales record low in recent years
- Local gov ramped up support by drafting white list projects
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The sharp slowdown in China’s home sales dragged on in January, even after policymakers stepped up efforts to arrest the slump.
The value of new home sales from the 100 biggest real estate companies slid 34.2% from a year earlier to 235 billion yuan ($33 billion), following a 34.6% decline in December, according to preliminary data from China Real Estate Information Corp. January’s sales were down 48% from the previous month, a record low in recent years.