China’s home sales slump dragged on in February, even as regulators stepped up efforts to salvage the beleaguered property market.
The value of new home sales from the 100 biggest real estate companies slid 60% from a year earlier to 185.9 billion yuan ($25.8 billion), following a 34.2% decline in January, according to preliminary data from China Real Estate Information Corp. February’s sales were down 20.9% from the previous month.
The decline in February is partly due to a seasonal sales drought during the Chinese new year festival, CRIC said. Demand and supply are expected to recover in March on-month, but the on-year decline trend may continue as restoring market confidence takes time, it said.
Sales tapering, nearing the bottom, ready to bounce etc, etc.
MacroBusiness Industries can confirm the sale of a Spruikbot Telephunken U-47 to Bloomberg that was specially modified for Chinese conditions.
That is, we substituted the regular battery pack with a nuclear reactor for amplified and sustained performance:
