58安居客研究院张波解读1月70城房价数据：新房市场城市能级差异进一步凸显，核心城市二手房价格在1月份率先企稳

Core Insights - The real estate market in China is experiencing a structural adjustment and bottoming out, with overall housing prices still in a downward trend but showing signs of stabilization due to policy support and market recovery [5][6][8] New Housing Market - In January, new housing prices in first-tier cities decreased by 0.3% month-on-month, with year-on-year prices down by 2.1%, indicating a widening decline [1] - Second-tier cities saw a month-on-month decrease of 0.3% in new housing prices, while third-tier cities experienced a 0.4% decline [1] - Cities like Wuhan, Qingdao, and Jinan are showing significant recovery, with market activity improving and surpassing the threshold of industry prosperity [6] Second-Hand Housing Market - The second-hand housing market is showing clearer signs of recovery, with first-tier cities' prices stabilizing in January, driven by policy factors and restored market confidence [6] - The year-on-year decline in second-hand housing prices in first-tier cities was 7.6%, with Beijing, Shanghai, Guangzhou, and Shenzhen experiencing declines of 8.7%, 6.8%, 8.3%, and 6.5% respectively [2] - The real estate brokerage industry's prosperity has increased significantly, with a year-on-year rise of 12.72 percentage points, indicating improved sentiment among both landlords and buyers [6] Market Outlook - Expectations for a "small spring" in March are high, with continued policy support anticipated to stabilize the market and expectations [7] - The first quarter is seen as a critical period for assessing the sustainability of policy effects and orderly market demand release, which will be key to determining the strength of market recovery [8]