中国百城房价1月延续分化：新房上涨，二手房下跌

Group 1 - In January 2026, the average price of new residential properties in 100 Chinese cities was 17,114 RMB per square meter, with a month-on-month increase of 0.18% and a year-on-year increase of 2.52% [1] - The average price of second-hand residential properties in the same cities was 12,905 RMB per square meter, showing a month-on-month decrease of 0.85% and a year-on-year decrease of 8.67% [1] - The real estate market showed a mixed performance, with cities like Chengdu, Shanghai, and Hangzhou seeing new high-end properties launched, contributing to a structural increase in new home prices, although overall market performance remained subdued [1] Group 2 - The China Index Academy indicated that 2026 has seen clear "stabilizing expectations" signals from policy levels, with measures such as extending housing tax rebates and structural interest rate cuts aimed at boosting market confidence [2] - The real estate policy is entering a new phase focused on "stabilizing expectations and shortening adjustment times," with a potential slowdown in sales due to the Spring Festival in February [2] - Anticipation for a gradual release of market demand in March is supported by the expected increase in promotional activities from some real estate companies before the Spring Festival [2]