哪些地产数据在改善？

Core Viewpoint - The article focuses on the recent trends in the real estate market, indicating improvements in second-hand housing indicators, but these are influenced by seasonal factors and require a cautious perspective. In the new housing sector, while improved properties are entering the market, there are still pressures on sales area and inventory, with no signs of recovery yet [2][4]. Group 1: Second-hand Housing - Sales have shown a narrowing decline, with a year-on-year decrease of 19.9% in sales area for 22 cities from January 1 to February 7, 2026, but this is primarily due to the Spring Festival timing. When adjusted for the lunar calendar, the year-on-year decline is -16% nationally and -26.8% for first-tier cities, which is an improvement from December 2025's figures of -27.9% and -37.4% respectively [4][11]. - Prices have seen a slight narrowing of decline, with a month-on-month decrease of -0.85% in January 2026, which is an improvement from December's -0.97%. Major cities like Beijing and Shanghai also experienced reduced price declines [14][15]. - Inventory has decreased seasonally, with a total of 2.56 million second-hand homes listed in January 2026, down from December 2025. Historical data shows a seasonal decline in listings during January and February [20][21]. Group 2: New Housing - Sales continue to face significant pressure, with a year-on-year decline of -7.2% in new housing transactions across 67 cities from January 1 to February 7, 2026. Adjusted for the lunar calendar, the decline is -44.7%, worsening from December 2025's -27.9% [25][28]. - Prices are on the rise due to the entry of improved properties, with the average price of new residential buildings at 17,000 yuan per square meter in January 2026, reflecting a month-on-month increase of 0.18% [30]. - Inventory levels have decreased in absolute terms, but the de-stocking cycle has lengthened, with the inventory of unsold residential area remaining stable at 400 million square meters as of December 2025, while the overall inventory, including land and pre-sold properties, is at 5.1 billion square meters, with the de-stocking cycle extending from 78 months to 84 months [33].