China’s home market fell at a fast pace at the start of 2022. Even though the government lifted some restrictive policies late last year, the housing market has, so far, not been pulled out of its slump. The value of homes sold in the first two months of 2022 fell 22 percent from last year, the National Bureau of Statistics data showed in mid-March. Separate data from researcher China Real Estate Information Corp. (CRIC) indicated that sales at the country’s top 100 real estate firms sank by 47 percent in February. “The market has yet to show a clear recovery,” said Lin Bo, director of research at CRIC. In the housing market, “supply, demand, and prices are going down,” he added. According to China’s National Bureau of Statistics data, new home prices fell 0.13 percent in February from the prior month, marking the sixth consecutive month of decline. Buyers are reluctant to take out mortgages now that …
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