法拍房月报｜5月成交率回升、交易量新高，参拍者信心快速修复（2025年5月）

Core Viewpoint - The domestic foreclosure housing market is experiencing a recovery in supply and demand indicators, with significant increases in transaction volume and a rise in premium transactions due to the ongoing stabilization policies in the real estate market and the easing of tariff agreements [3][8]. Supply Volume - In May, the newly listed foreclosure properties reached 25,000 units, a month-on-month decrease of 18%, while the total starting price was 23.2 billion yuan, down 30% month-on-month [10][11]. - Chongqing continues to lead with over 1,000 units listed for six consecutive months, while cities like Chengdu, Wuhu, and Zhengzhou also saw significant listings [10]. Transaction Volume - The transaction volume in May surged to 4,679 units, marking a month-on-month increase of 276% and setting a new monthly high for 2025, with 69% of properties sold at a premium, up 3 percentage points from the previous month [5][14]. - The competitive bidding environment improved, with 7.7% of properties receiving over 100 bids, indicating a notable increase in transaction activity [14][17]. Transaction Rate - The national average transaction rate rose to 19%, an increase of 3 percentage points from the previous month, with cities like Ningbo, Shanghai, and Hangzhou exceeding 50% [6][21][24]. - The recovery in transaction rates is attributed to the easing of selling sentiment and improved buyer confidence [8][24]. Discount Rates - The average starting discount rate for listed foreclosure properties was 28.9%, up 1.1 percentage points month-on-month, while the average transaction discount rate was 32.5%, an increase of 1.2 percentage points [27][30]. - The narrowing gap between starting and transaction discount rates suggests a growing acceptance from buyers as sellers lower price thresholds, potentially leading to more completed transactions [27][30]. Market Outlook - The foreclosure housing market is expected to benefit from ongoing stabilization efforts in the real estate sector and rapid urban renewal initiatives, although a seasonal peak in primary housing transactions in June may affect foreclosure transaction volumes [9][8]. - The market is likely to attract more high-net-worth individuals and domestic and foreign investment institutions, particularly in cities like Shanghai, Shenzhen, Hangzhou, Ningbo, and Xiamen, which are expected to perform notably well in the second half of the year [9].