国家统计局：7月70个大中城市中各线城市商品住宅销售价格同比降幅整体有所收窄

Core Insights - In July 2025, the sales prices of new residential properties in major cities showed a month-on-month decline, with a year-on-year decrease overall narrowing [1] - First-tier cities experienced a year-on-year price drop of 1.1% for new residential properties, a reduction of 0.3 percentage points compared to the previous month [1] - Among first-tier cities, Shanghai saw a price increase of 6.1%, while Beijing, Guangzhou, and Shenzhen experienced declines of 3.6%, 4.6%, and 2.2% respectively [1] - Second and third-tier cities recorded year-on-year price declines of 2.8% and 4.2% for new residential properties, with reductions in decline of 0.2 and 0.4 percentage points respectively [1] - In July, the year-on-year price drop for second-hand residential properties in first-tier cities was 3.4%, with the decline expanding by 0.4 percentage points from the previous month [1] - The year-on-year price changes for second-hand properties in Beijing, Shanghai, Guangzhou, and Shenzhen were declines of 2.9%, 2.2%, 6.0%, and 2.5% respectively [1] - Second and third-tier cities saw year-on-year price declines of 5.6% and 6.4% for second-hand residential properties, with declines narrowing by 0.2 and 0.3 percentage points respectively [1]