China Home Sales Slump Continues in March

Ling Wei-Ming
1 min read

China’s home sales continue to face challenges, as the month of March saw a persistent slump, dashing hopes for a quick turnaround in the sector. The value of new home sales from the 100 biggest real estate companies plummeted by about 46% compared to the previous year, totaling 358 billion yuan ($49.6 billion). This decline follows a 60% drop in February, according to preliminary data from China Real Estate Information Corp. The real estate market in China is showing signs of prolonged struggle, highlighting the significant impact of the current market dynamics on home sales.

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