样本城市周度高频数据全追踪：最新一周二手房网签面积农历同比下降10%-20260201

Investment Rating - The report maintains a "Recommendation" rating for the industry, indicating a positive outlook for the sector's fundamentals and expectations for the industry index to outperform the benchmark index [7]. Core Insights - The latest data shows a significant decline in the area of second-hand housing contracts, with a year-on-year decrease of 10% in the most recent week [1]. - New housing contracts have also seen a year-on-year decline of 26% in the latest week, while second-hand housing contracts have decreased by 10% [3]. - The overall trend indicates that the new housing market is experiencing a more substantial contraction compared to the second-hand market, with new housing contracts down 57% and second-hand contracts down 19% since January [3]. Summary by Sections New Housing Contracts - The year-on-year decline in new housing contracts has expanded, with a decrease of 24% across sample cities [4]. - The performance of new housing contracts in first-tier cities shows a decline of 21%, while second-tier cities have seen a 27% drop [4]. - The overall new housing contract area is at a low level compared to the same period over the past five years [9][12]. Second-hand Housing Contracts - The second-hand housing market has shown a year-on-year increase of 7% in contract areas, indicating a recovery trend [4]. - First-tier cities have reported a 9% increase in second-hand housing contracts, while second-tier cities have seen an 8% increase [4]. - The second-hand housing market is currently performing better than the new housing market, with a higher year-on-year performance [14]. Market Indicators - The average number of viewings for second-hand properties in 12 sample cities has increased by 60.9% compared to December, indicating a positive shift in market activity [5][40]. - The liquidity outlook for January 2026 suggests a tightening trend, which may impact market dynamics [5][45]. - The proportion of listings with price increases has risen slightly, indicating a potential stabilization in pricing trends [5][47]. Land Acquisition - The cumulative area of land transactions in 2025 has shown a year-on-year decline of 13%, but the rate of decline has narrowed compared to previous months [20]. - The average transaction price for land has increased by 1% year-on-year, reflecting a slight recovery in land values [20]. - The land acquisition data indicates varying performance across different city tiers, with first-tier cities experiencing a more significant decline [20].