二手房抛售愈演愈烈，业内人士：我们在创造一个人类奇迹？

Core Insights - The Chinese real estate market is undergoing an unprecedented transformation, characterized by a simultaneous decline in both transaction volume and prices, indicating a "quantity and price drop" phenomenon [1] - The surge in second-hand housing listings is intensifying the downward pressure on future housing prices, with a significant increase in the number of cities experiencing price declines [1][2] Market Trends - In May, the number of cities with new residential prices declining increased to 54, up by 10 from April, while 83 cities saw second-hand housing prices drop, an increase of 7 from the previous month [1] - Sales of new homes and second-hand homes are both shrinking, with Beijing and Shanghai reporting significant declines in second-hand home transactions [1] Listing Surge - Major cities like Nanjing, Chengdu, and Hangzhou have seen historical highs in second-hand home listings, exceeding 170,000, 190,000, and 210,000 respectively, indicating a looming risk of price drops [1] - Other cities such as Beijing, Chongqing, and Wuhan are also facing substantial listing pressures, with numbers reaching over 110,000 and 200,000 [1] Investor Sentiment - The rapid increase in second-hand listings reflects a lack of confidence among investors regarding the future of the housing market, with experts expressing concerns about the ongoing trends [2] - The anticipated introduction of property taxes is causing anxiety among property owners, prompting many to sell their properties to avoid increased holding costs [4] Financial Pressures - The number of individuals opting to repay their mortgages early is rising, driven by financial strain from the pandemic or a desire to escape long-term debt [7] - Many homeowners are now more rational in their purchasing decisions, influenced by reduced incomes and a more cautious approach to borrowing [9][10]