去年12月房价数据发布，新房上涨，二手房下跌，市场走稳了吗？

Core Viewpoint - The real estate market in China shows a mixed trend with new housing prices increasing while second-hand housing prices are declining, indicating potential instability in the market [1][3][5]. Group 1: New Housing Market - In December 2025, the average price of newly built residential properties in 100 cities was 17,084 yuan per square meter, reflecting a month-on-month increase of 0.28% and a year-on-year increase of 2.58% [1]. - The recent increase in new housing prices is attributed to previous significant declines, which may not indicate a genuine recovery in market sentiment [5][6]. Group 2: Second-Hand Housing Market - The average price of second-hand residential properties in December 2025 was 13,016 yuan per square meter, showing a month-on-month decrease of 0.97% and a year-on-year decrease of 8.36% [1]. - The decline in second-hand housing prices is more significant than the increase in new housing prices, suggesting that demand for improved living conditions is still lacking [5][6]. - The stability of the real estate market is more accurately reflected by the second-hand housing prices, as they indicate market activity and consumer sentiment more effectively than new housing prices [3][8]. Group 3: Market Outlook - The current real estate market is still in an overall downward trend, particularly in the second-hand housing sector, due to insufficient demand for improved living conditions and unstable income levels [8]. - Optimistically, it is projected that by mid-2026, second-hand housing prices may stabilize and potentially increase by around 2%, which could enhance market activity by 3-5% [10].