8月份各线城市房价环比下降，降幅总体继续收窄

Core Viewpoint - In August, the sales prices of commercial residential properties in 70 large and medium-sized cities in China showed a month-on-month decline, but the year-on-year decline continued to narrow, indicating a potential stabilization in the real estate market [1][2]. Price Changes - In first-tier cities, new commercial residential property prices decreased by 0.1% month-on-month, with the decline narrowing by 0.1 percentage points compared to the previous month [1]. - Second-tier cities saw new commercial residential property prices decrease by 0.3% month-on-month, with the decline narrowing by 0.1 percentage points [1]. - Third-tier cities experienced a month-on-month decline of 0.4% in new commercial residential property prices, with the decline expanding by 0.1 percentage points [1]. - Second-hand residential property prices in first-tier cities decreased by 1.0% month-on-month, remaining unchanged from the previous month [1]. - Second-tier cities' second-hand residential property prices decreased by 0.6% month-on-month, with the decline expanding by 0.1 percentage points [1]. - Third-tier cities' second-hand residential property prices decreased by 0.5% month-on-month, remaining unchanged from the previous month [1]. Investment and Sales Data - From January to August, national real estate development investment reached 60,309 billion yuan, representing a year-on-year decline of 12.9% [1]. - The sales area of new commercial residential properties from January to August was 57,304 million square meters, with a year-on-year decline of 4.7% [1]. - The sales revenue of new commercial residential properties was 55,015 billion yuan, down 7.3% year-on-year [1]. Market Outlook - The deputy director of the Shanghai E-House Real Estate Research Institute, Yan Yujin, emphasized the need for local governments to actively implement measures to boost the real estate market during the "Golden September and Silver October" period, aiming to stabilize the market and stimulate housing demand [1].