房价，跌难受了！

Core Viewpoint - The recent data on housing price changes in 70 major cities indicates a concerning trend, with prices continuing to decline for four consecutive months since April, suggesting a potential halt in the recovery observed since October of the previous year [4][5]. Group 1: Housing Market Trends - The number of cities experiencing month-on-month increases in new residential property prices is decreasing, which was previously a key indicator of market recovery [4]. - The situation for second-hand residential property prices is even more troubling, with no cities reporting year-on-year price increases for an extended period [4]. - The overall trend indicates that the housing market is unlikely to see widespread price increases in the near future due to a shift from demand exceeding supply to an oversupply situation [5]. Group 2: Demand and Supply Dynamics - The anticipated reduction in housing demand is primarily driven by a negative population growth trend, with a decrease of 4.32 million people projected from 2022 to 2024 [5]. - The limited new housing demand, coupled with a controlled supply, suggests that many cities will face downward pressure on housing prices [5][6]. - The current pace and depth of price declines are surpassing market expectations, indicating potential irrational elements in the ongoing price drops [6]. Group 3: Market Sentiment and Confidence - To reverse the current downward trend in the housing market, it is essential to focus on improving market confidence and expectations [6].