LBX(SH:603883) Sou Hu Cai Jing·2026-01-31 05:54Core Viewpoint - The Chinese real estate market is experiencing a long-term adjustment, with average national housing prices dropping over 30%, and certain cities seeing declines exceeding 60% [1][3]. Group 1: Trends in the Real Estate Market - Trend 1: Housing prices are beginning to show differentiation across regions, with second and third-tier cities experiencing a slowdown in price declines, while first-tier cities are likely to face a correction [5][3]. - Trend 2: A dual-track system in real estate is expected to emerge, allowing low-income families to apply for affordable housing while middle and high-income families can opt for purchasing such properties [7][3]. - Trend 3: The construction of quality housing is anticipated to become mainstream, as buyer expectations rise and government encourages developers to focus on quality [9][3]. - Trend 4: The proportion of existing home sales is projected to increase, allowing buyers to inspect properties before purchase, thereby reducing the incidence of unfinished buildings [11][3]. Group 2: Future Market Outlook - By 2026, housing prices are likely to continue a trend of "steady decline," with the expectation that housing market bubbles will be eliminated, prompting consumers to prepare for a significant market shift [11][3].