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According to data released by the National Bureau of Statistics on the 15th, in June, among 70 large and medium-sized cities, the sales prices of residential properties in first tier cities increased month on month, while those in second - and third tier cities decreased or remained unchanged. The overall year-on-year decline in first -, second -, and third tier cities continued to narrow. Experts say that cities that serve as the "barometer" of the real estate market have played a role in stabilizing the market, and the second-hand housing market is highly active nationwide. Overall, China's real estate market continues to maintain a stable trend.

 

According to data from the National Bureau of Statistics, in June, the sales prices of newly-built commercial residential properties in first tier cities increased by 0.1% month on month. Among them, Shanghai, Guangzhou, and Shenzhen increased by 0.3%, 0.2%, and 0.3% respectively, while Beijing decreased by 0.3%; The sales price of second-hand residential properties increased by 0.3% month on month, with Beijing, Shanghai, Guangzhou, and Shenzhen rising by 0.1%, 0.4%, 0.4%, and 0.3% respectively.

 

Yu Xiaofen, Dean of the China Housing and Real Estate Research Institute at Zhejiang University of Technology, stated that first tier cities, which have a guiding role, have played a stabilizing and driving role in the market. At the same time, the trend of "stability" has been gradually transmitted from first tier cities to second - and third tier cities.

 

According to data from the National Bureau of Statistics, in June, the sales prices of newly-built commercial residential properties in second tier cities decreased by 0.1% month on month, but remained unchanged; The sales price of newly-built commercial residential properties in third tier cities decreased by 0.3% month on month, narrowing the decline by 0.1 percentage points compared to the previous month.

 

According to data signed online by the Ministry of Housing and Urban Rural Development, in June, the total volume of new and second-hand housing transactions in four first tier cities including Beijing, Shanghai, Guangzhou, and Shenzhen, as well as 12 regional center cities including Hangzhou, Chengdu, Nanjing, and Wuhan, increased by 21.7% year-on-year. Meanwhile, 207 cities across the country have achieved a year-on-year positive growth in the total volume of new and second-hand housing transactions.

 

In addition, in June, among 70 large and medium-sized cities, 20 cities saw a month on month increase in the sales prices of newly-built residential properties, an increase of 4 cities from the previous month and the highest since May 2025. Yu Xiaofen analyzed that there are not only first tier cities, but also second tier cities such as Taiyuan, Shenyang, Changchun, Nanjing, Hangzhou, and third tier cities such as Xuzhou, Huizhou, and Sanya, which reflects the expansion of market recovery coverage.

 

According to data from the National Bureau of Statistics, as of the end of June, the unsold area of commercial housing in China was 763.15 million square meters, a year-on-year decrease of 0.9%. Among them, the area for sale for less than 3 years is 561.67 million square meters, a decrease of 3.5%. The unsold area has decreased for four consecutive months since March this year.

 

As the real estate market enters the era of stock, the substitution role of second-hand houses for new houses becomes increasingly evident. According to data from the Ministry of Housing and Urban Rural Development, in the first half of the year, the proportion of second-hand houses in the total transaction volume of new and second-hand houses was 50.4%. In 18 provinces (regions, cities) including Beijing, Shanghai, Jiangsu, and Guangdong, the transaction area of second-hand housing exceeded that of newly-built commercial housing.

 

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