China home sales fell 40 per cent in February to hit multi-year low

 

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China's home sales tumbled about 40 per cent in February to hit a multi-year low amid the coronavirus outbreak, with 90 per cent of major property developers posting drops.

The top 100 developers' total sales fell 37.9 per cent in February from a year earlier to 324.3 billion yuan, 43.8 per cent down from the previous month, according to data from the CRIC, a Chinese real estate consultancy. That marks the weakest monthly performance in recent years.

The data shows that 23 of the 100 homebuilders saw February sales decline . . .

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