8月70城房价出炉，新房上涨城市增加

Core Viewpoint - The real estate market in China shows signs of stabilization with a narrowing decline in sales and an increase in new home prices in several cities, indicating potential recovery in the sector [1][16][22]. Group 1: Market Performance - In the first eight months of the year, the sales area of new residential properties reached 57,304 million square meters, a year-on-year decline of 4.7%, but the decline is 13.3 percentage points smaller than the same period last year [17]. - The sales revenue of new residential properties was 55,015 billion yuan, down 7.3%, with a reduction in the decline of 16.3 percentage points compared to the previous year [17]. - By August, the number of cities with rising new home prices increased to nine, including Shanghai, Hangzhou, and Nanning, reflecting a positive trend in the market [1][16]. Group 2: Price Trends - In August, the new home prices in first-tier cities saw a month-on-month decline of 0.1%, with Shanghai experiencing a 0.4% increase, while Beijing, Guangzhou, and Shenzhen all saw declines [9][16]. - Year-on-year, new home prices in first-tier cities decreased by 0.9%, a reduction of 0.2 percentage points compared to the previous month [8][9]. - The decline in new home prices for second and third-tier cities was 2.4% and 3.7% respectively, with reductions in the decline of 0.4 and 0.5 percentage points [8][16]. Group 3: Inventory and Supply - The inventory of unsold residential properties decreased for six consecutive months, with a total of 76,169 million square meters by the end of August, down 317 million square meters from July [20][15]. - The reduction in inventory indicates that developers are actively working to reduce stock, suggesting a shift from rapid decline to a phase of stabilization in the market [20][22]. Group 4: Policy and Market Outlook - The government has implemented various policies to stabilize the real estate market, including adjustments to housing policies and financial incentives to stimulate demand [22][23]. - Analysts predict that the market may see a seasonal increase in activity during the "Golden September" period, with core cities likely to accelerate the launch of new projects [24][22]. - The expectation of continued monetary policy easing and the potential for more favorable conditions in the housing market could further support recovery efforts [23][24].