楼市回暖趋势延续，新房二手房同比降幅连续7个月收窄

Core Viewpoint - The decline in residential sales prices across various cities in China has been narrowing, indicating a stabilization in the real estate market, with a continuous reduction in year-on-year price declines for seven consecutive months since November 2024 [1][3][4]. Group 1: Price Trends - In May 2025, new residential property prices in first-tier cities fell by 1.7% year-on-year, a decrease of 0.4 percentage points from the previous month [3]. - Second and third-tier cities saw new residential property prices decline by 3.5% and 4.9% year-on-year, with reductions of 0.4 and 0.5 percentage points respectively [3]. - The year-on-year decline in second-hand residential property prices in first-tier cities was 2.7%, narrowing by 0.5 percentage points from the previous month [3]. Group 2: Market Analysis - The continuous narrowing of price declines suggests that the real estate market is entering a stabilization phase, supported by effective policy implementations [4][6]. - The current market adjustments are viewed as a natural self-regulation process, reflecting the balance of supply and demand in the real estate sector [5]. - The overall market environment is expected to improve further due to ongoing policy optimizations, which will enhance market stability and boost transaction confidence [6]. Group 3: Future Outlook - Experts predict that the trend of narrowing price declines will continue, driven by the sustained effects of regulatory policies and improved market conditions [4][6]. - There is a call for expanding the scope and intensity of policy implementations to further stimulate market activity and optimize housing supply structures [6].