Core Insights - The real estate market in Harbin has shown a positive trend in second-hand housing transactions, with a total of 31,394 units sold in the first half of the year, marking a year-on-year increase [1][6] - The demand for housing is primarily driven by first-time buyers, accounting for approximately 60% of transactions, while improvement-oriented buyers make up about 35% [5][6] Group 1: Market Performance - The second-hand housing transaction volume increased by approximately 16% year-on-year for a major real estate company, with the average transaction cycle shortening to 15-20 days [3][5] - The overall transaction volume in the first quarter was 13,435 units, reflecting a 6% year-on-year increase, while the second quarter saw a steady performance with slight increases in April (3.47%), May (1.74%), and June (3.93%) [3][6] Group 2: Buyer Demographics - The primary buyers are young first-time homebuyers who are sensitive to total price and area, favoring smaller, lower-priced units [6][8] - Improvement-oriented buyers are more focused on housing quality and amenities, showing a significant interest in larger, high-quality units in well-managed neighborhoods [6][9] Group 3: Policy and Market Dynamics - Recent policy benefits, such as lower mortgage rates and tax incentives, have positively impacted the second-hand housing market, helping to stabilize transactions despite competition from new housing [8][9] - The market is experiencing increased competition due to new housing price reductions and inventory pressures, yet core areas maintain stable prices due to their superior amenities [9]