58安居客研究院院长张波解读12月70城房价数据：一线市场止跌回暖信号增强，二手房“以价换量”趋势不变

Core Viewpoint - The real estate market in major Chinese cities shows signs of stabilization, with some cities experiencing price increases, particularly in new homes, while the second-hand housing market is adjusting prices to stimulate demand [1][2][3]. Group 1: New Home Prices - In December 2025, new home prices in first-tier cities decreased by 0.3% month-on-month, with Shanghai seeing a 0.2% increase, while Beijing, Guangzhou, and Shenzhen experienced declines of 0.4%, 0.6%, and 0.5% respectively [1]. - Second-tier cities saw a 0.4% month-on-month decline in new home prices, with the decline expanding by 0.1 percentage points [1]. - Third-tier cities also reported a 0.4% decrease in new home prices, consistent with the previous month [1]. Group 2: Second-Hand Home Prices - In December 2025, second-hand home prices in first-tier cities fell by 0.9% month-on-month, with a reduction in the decline by 0.2 percentage points compared to the previous month [1]. - Specific declines in second-hand home prices included Beijing at 1.3%, Shanghai at 0.6%, Guangzhou at 1.0%, and Shenzhen at 0.6% [1]. - Second and third-tier cities both experienced a 0.7% decline in second-hand home prices, with the decline expanding by 0.1 percentage points [1]. Group 3: Market Demand and Trends - Zhang Bo from 58 Anjuke Research Institute noted an "increase in demand" as the number of people searching for second-hand homes in 46 key cities averaged 65.4% in 2025, up 2.8 percentage points from 2024 [2]. - In December, second-hand home transactions in Shanghai exceeded 22,000 units, while Beijing's net signing volume reached 17,200 units, marking a 19.1% month-on-month increase and the highest in nearly nine months [2]. - The recent policy changes, including lower loan rates and tax incentives, have significantly reduced the barriers to home buying, leading to increased user engagement on real estate platforms [3].