5月北京二手房成交超1.4万套，买卖双方价格博弈持续

Core Viewpoint - The Beijing real estate market has entered a stable phase after a brief surge, with a notable trend of "price for volume" emerging as sellers face pressure to lower prices to facilitate sales [1][8][12]. Market Performance - In May, the number of second-hand residential transactions in Beijing was 14,277, representing a year-on-year increase of 6.7% but a month-on-month decrease of 8.3% [2][5]. - The overall transaction volume in May is considered a normal decline following a peak in March, with an increase in the number of listings compared to pre-Spring Festival levels [5][10]. Pricing Trends - The average listing price for second-hand homes in Beijing decreased by 0.3% month-on-month in May, indicating a slight downward trend in the market [7]. - The bargaining space for transactions has expanded, increasing by 0.68 percentage points from April, reaching a new high for the year, suggesting that more sellers are willing to negotiate on price [7][8]. Buyer Behavior - There is a noticeable increase in buyer hesitation, with many potential buyers adopting a "look but not buy" approach, reflecting a lack of confidence in the market [7][10]. - Some buyers are finding that prices have reached their psychological thresholds, leading to quicker transactions for desirable properties, although sellers still need to make concessions to close deals [10][11]. Future Outlook - The market is expected to continue the "price for volume" trend into June, with a slight anticipated decrease in prices as the demand from new school year buyers has ended [11][12]. - Analysts suggest that if supportive policies are introduced, such as relaxed credit policies or home purchase subsidies, it could stimulate demand and potentially revive prices and transaction volumes [13].