8月中国百城新房价格环比继续上涨，二手房价下跌

Core Insights - In August, the average price of new residential properties in 100 Chinese cities increased by 0.20% month-on-month to 16,910 RMB per square meter, while the average price of second-hand residential properties decreased by 0.76% to 13,481 RMB per square meter [1] - The cities of Hangzhou, Shanghai, and Hefei saw the highest month-on-month increases in new home prices, with rises of 0.92%, 0.86%, and 0.82% respectively [1] - The overall market remains in a seasonal downturn, with developers showing weaker sales efforts despite some structural price increases in core cities [1] Market Dynamics - The second-hand housing market experienced varying degrees of price declines, with Chengdu showing the smallest drop [1] - High listing volumes for second-hand homes persisted, with "price for volume" strategies dominating the market [1] - Recent policy changes in Beijing and Shanghai have relaxed home purchase restrictions, allowing eligible buyers to purchase unlimited properties outside the city limits [1] Future Outlook - The real estate market is expected to enter a traditional peak season in September and October, with an anticipated increase in market activity as developers accelerate project launches in core cities [2] - The introduction of new supportive policies for the real estate market is expected to be expedited, alongside potential easing of domestic monetary policy due to rising expectations of a Federal Reserve rate cut [2]