Core Insights - The average new home price in 65 major cities has increased by 1.51% month-on-month, reaching 7,807 yuan/m² [3][7] - The housing search activity in August 2025 has shown a slight increase of 0.16% compared to the previous month, with first-tier cities seeing a 1.05% rise [5][7] New Home Prices - The average new home prices in major cities are as follows: - Beijing: 56,248 yuan/m² - Shanghai: 27,354 yuan/m² - Guangzhou: 36,480 yuan/m² - Shenzhen: 26,183 yuan/m² - Chengdu: 16,236 yuan/m² - Hangzhou: 27,083 yuan/m² - Chongqing: 11,835 yuan/m² - Xi'an: 18,028 yuan/m² - Suzhou: 55,619 yuan/m² [3][4][23] Housing Search Activity - The housing search activity in first-tier cities increased by 1.05%, with Beijing leading at a 2.61% increase [7][8] - Second-tier cities saw a 0.11% increase, while third-tier cities experienced a 0.20% rise in housing search activity [7][8] Buyer Confidence Index - The buyer confidence index for August 2025 is reported at 86.8, with 27.0% of buyers planning to purchase a home within the next year [16][32] - A significant portion of buyers (58.0%) are looking to purchase their first home, while 24.0% are considering upgrading to a second home [16][32] Price Expectations - Over 56% of buyers anticipate a decline in home prices in September, with 32.0% expecting a decrease of more than 10% [16][15] - The expectations for September's home price trends indicate that 37.0% of real estate agents believe prices will remain stable [32][30] Second-Hand Housing Market - The average listing price for second-hand homes across 65 cities has decreased by 1.66% month-on-month, with an average of 13,185 yuan/m² [19][24] - Major cities' second-hand home prices include: - Beijing: 42,410 yuan/m² - Shanghai: 45,159 yuan/m² - Guangzhou: 32,488 yuan/m² - Shenzhen: 55,407 yuan/m² [21][23] New Listings - The number of new listings in the housing market has decreased by 1.33% month-on-month, with significant declines in major cities such as Beijing (-0.35%) and Shenzhen (-2.60%) [25][26]