China’s new-home sales extended a slump in October, despite recent easing measures introduced by major cities to revive the struggling property market.
The value of new-home sales from the 100 largest property companies stood at 253 billion yuan ($35.6 billion), preliminary data from China Real Estate Information Corp. on Friday showed. That represents a 41.9% drop from a year earlierBloomberg Terminal, according to data compiled by Bloomberg. It also snaps a brief stabilization in sales seen a month earlier.