7月房价数据出炉，山东4市新房价格同比降幅收窄

Core Insights - The core viewpoint of the article is that in July 2025, the sales prices of new residential properties in 70 major cities in China experienced a month-on-month decline, while the year-on-year decline showed a narrowing trend overall [1][6][7]. Summary by Category New Residential Property Prices - In Shandong, the new residential property prices in four cities decreased by 0.2% to 0.4% month-on-month, with year-on-year declines also narrowing [1]. - Specific month-on-month changes for new residential property prices in Shandong cities are as follows: Jinan down 0.3%, Qingdao down 0.4%, Yantai down 0.3%, and Jining down 0.2% [1]. - Year-on-year changes for new residential property prices in Shandong cities are: Jinan down 4% (narrowed by 0.2 percentage points), Qingdao down 1.8% (narrowed by 0.3 percentage points), Yantai down 4.4% (narrowed by 0.2 percentage points), and Jining down 3.7% (narrowed by 0.3 percentage points) [1]. Overall Market Trends - In July, the new residential property prices in first-tier cities decreased by 0.2% month-on-month, with a narrowing decline of 0.1 percentage points compared to the previous month [6]. - Year-on-year, first-tier cities saw a 1.1% decline in new residential property prices, which is a narrowing of 0.3 percentage points from the previous month [7]. - The number of cities with year-on-year increases in new residential property prices rose to 5, an increase of 2 from the previous month [7]. Second-hand Residential Property Prices - The second-hand residential property prices in first-tier cities fell by 1.0% month-on-month, with a widening decline of 0.3 percentage points compared to the previous month [6]. - Year-on-year, second-hand residential property prices in first-tier cities decreased by 3.4%, with a widening decline of 0.4 percentage points from the previous month [7].