6月70城房价指数出炉：一线城市同比降幅收窄，上海环比领跑

Core Viewpoint - The housing market in China is experiencing a mixed trend, with new home prices in major cities showing a slight decline overall, while some cities like Shanghai are witnessing price increases due to specific market dynamics [1][3][5]. New Home Prices - In June, new home prices in first-tier cities decreased by 0.3% month-on-month, with Shanghai leading the increase at 0.4%, while Beijing, Guangzhou, and Shenzhen saw declines of 0.3%, 0.5%, and 0.6% respectively [3][5]. - A total of 14 cities reported month-on-month increases in new home prices, an increase of one city compared to May, with notable increases in Shanghai and Changsha [2][5]. Year-on-Year Trends - Year-on-year, new home prices in first-tier cities fell by 1.4%, but the decline was less severe than in previous months, with Shanghai showing a significant increase of 6.0% [5][11]. - Second and third-tier cities also experienced year-on-year declines of 3.0% and 4.6%, respectively, but these declines are narrowing [5][11]. Second-Hand Home Market - The second-hand home market is characterized by a price adjustment, with first-tier cities seeing a month-on-month price drop of 0.7%, consistent with the previous month [7][8]. - Only one city, Xining, reported a month-on-month increase in second-hand home prices at 0.1% [8][12]. Market Dynamics and Future Outlook - The market is expected to stabilize in the second half of the year, driven by enhanced policy measures and increased supply in core cities [14][15]. - Analysts suggest that the real estate market is in a transitional phase, with a focus on long-term structural adjustments in second and third-tier cities [14][15].