国家统计局：1月份一线城市新建商品住宅销售价格环比下降0.3%，同比下降2.1%

Core Insights - In January 2026, the sales prices of commercial residential properties in 70 large and medium-sized cities in China showed a narrowing decline month-on-month, while year-on-year prices decreased [1][2]. Group 1: Month-on-Month Price Changes - In January, the sales prices of new commercial residential properties in first-tier cities decreased by 0.3% month-on-month, with Shanghai remaining flat, and Beijing, Guangzhou, and Shenzhen declining by 0.3%, 0.6%, and 0.4% respectively [2][5]. - Second-tier cities saw a month-on-month decline of 0.3%, a reduction of 0.1 percentage points compared to the previous month, while third-tier cities experienced a 0.4% decline, unchanged from the previous month [2][5]. - The month-on-month prices of second-hand residential properties in first-tier cities fell by 0.5%, with a reduction of 0.4 percentage points from the previous month, while second and third-tier cities saw declines of 0.5% and 0.6% respectively [2][5]. Group 2: Year-on-Year Price Changes - Year-on-year, the sales prices of new commercial residential properties in first-tier cities decreased by 2.1%, with the decline expanding by 0.4 percentage points compared to the previous month; Shanghai saw an increase of 4.2%, while Beijing, Guangzhou, and Shenzhen experienced declines of 2.4%, 5.3%, and 4.9% respectively [5][6]. - Second-tier cities recorded a year-on-year decline of 2.9%, and third-tier cities saw a 3.9% decrease, with both declines expanding by 0.4 and 0.2 percentage points respectively [5][6]. - The year-on-year prices of second-hand residential properties in first-tier cities fell by 7.6%, with the decline expanding by 0.6 percentage points; Beijing, Shanghai, Guangzhou, and Shenzhen saw declines of 8.7%, 6.8%, 8.3%, and 6.5% respectively [5][6].