10月楼市数据出来了，房价全线下跌，这一回是真的！

Core Viewpoint - The October housing price data for 70 cities indicates a significant decline across both new and second-hand housing markets, reflecting a cooling market sentiment. New Housing Market - In first-tier cities, new housing prices fell by 0.3% month-on-month, with the decline accelerating by 0.2 percentage points compared to the previous month [1] - Second-tier cities experienced a 0.4% month-on-month decrease, also showing an increased decline of 0.1 percentage points from last month [1] - Third-tier cities saw a consistent decline of 0.4% month-on-month [1] - Even high-end improvement projects, which were previously expected to support prices, are now unable to withstand market pressures, indicating a shift in overall market expectations [4] Second-Hand Housing Market - The second-hand housing market is experiencing even steeper declines, with first-tier cities seeing a 1% month-on-month drop, maintaining the same decline as the previous month [5] - Second and third-tier cities recorded month-on-month decreases of 0.7% and 0.6%, respectively, with declines continuing to widen [5] - First-tier cities have entered a phase of "accelerated correction" since June, moving quickly towards their true market value, which significantly impacts overall market confidence [5] Market Heat - Nationwide, only 5 cities reported month-on-month increases in new housing prices in October, a stark contrast to 24 cities in March during a brief market upturn [7] - In the second-hand market, all 70 cities reported declines in October, compared to 10 cities experiencing price increases in March [7] - This dramatic shift illustrates the increasing market pressure in the second half of the year compared to the first half [7] Underlying Reasons and Future Outlook - The effects of earlier housing market easing policies have diminished, leading to market "antibody" development [8] - Anticipated stronger stimulus policies have not materialized, with the Loan Prime Rate (LPR) remaining unchanged [8] - The current price adjustments may be a deliberate strategy by higher authorities to allow housing to return to its residential purpose, eliminating past bubbles [11] - The market requires supportive policies to boost confidence, but there are no signs of such measures being implemented yet [11]