4月，重点城市二手房成交量同比普遍增长。 具体来看，一线城市中，深圳二手住宅成交套数同比大增37%，上海同比增长30%，北京同比增长17%，广州同比增长近13%。 二线城市中，成都、杭州、南 宁二手住宅成交套数同比分别增长20%、16%、14%。 业内人士认为，4月重点城市二手房交易活跃度持续，驱动行业对后市信心有所回升，5月房地产市场有望延续积极向好。 重点城市二手房成交同比增长 4月，重点城市二手房成交量整体同比延续增长态势。 不过，中指研究院高级分析师孟新增指出，4月重点城市二手房市场仍保持较高活跃度，成交同比多保持增长，但目前二手房挂牌量仍在高位，部分城市取消 限售后二手房挂牌量有所增加，市场整体仍延续"以价换量"行情，根据中指研究院百城价格指数，4月百城二手住宅价格环比下跌0.69%，跌幅较上月扩大0.1 个百分点。 "红五月"可期？ 因4月楼市活跃度持续，业内认为5月二手住宅市场交易将升温。 广州市房地产中介协会指出，4月市场受清明假期以及雨水天气频繁等因素影响，但全市二手住宅网签量仍保持万宗以上水平，驱动行业对后市信心有所回 升，5月经理人指数因此环比增长9.79个百分点至52.17%（前值42 ...

Core Viewpoint - The Beijing second-hand housing market is experiencing a seasonal slowdown in activity, with an increase in listings and a shift in pricing dynamics as sellers adjust their expectations and buyers maintain a strong negotiating position [3][4][8]. Group 1: Market Activity - In April, the number of signed contracts for second-hand homes in Beijing was 15,569, representing a month-on-month decrease of 19.05% but a year-on-year increase of 16.59% [3]. - The overall market activity has declined compared to March, with a decrease in consultation, viewing, and transaction volumes, indicating a return to normalcy after the post-Spring Festival surge [3][4]. - The number of listings for second-hand homes in April increased by 3.7% compared to March, indicating ongoing pressure for market absorption [5]. Group 2: Pricing Dynamics - The average listing price for second-hand homes in Beijing in April was 87,100 yuan per square meter, down 0.7% month-on-month and 2.9% year-on-year [8]. - The bargaining space for buyers has narrowed by 0.27 percentage points compared to March, yet buyers still hold a significant advantage in negotiations [8]. - Sellers are increasingly adjusting their prices, with some urgent sellers willing to reduce prices by 5-8% to facilitate quicker sales [9]. Group 3: Market Outlook - The market is expected to continue facing downward pressure on prices as the "small spring" effect diminishes, with predictions of a slight decrease in transaction volumes and prices if no new policies are introduced [10]. - The upcoming May market is anticipated to maintain a steady volume but may see slight price declines due to increased listings and ongoing buyer caution [10].

4月24日，美国全国地产经纪商协会表示，3月份二手房折合年率销量402万套，预估为413万套，2月份 销售数据从426万套修正至427万套。 ...

经济复苏的成色和分歧 1-2月二手房成交量继续维持高位， 9大样本城市二手房成交面积同比增长25.9%，显著高于-6.9% 的新房成交面积增速。但是二手房成交的复苏并不全面，其中深圳、杭州的二手房成交同比增长 65.6%、46.8%，苏州、青岛、佛山的二手房成交同比增长2.5%、-0.8%、-3.5%，内部分化较 大。 文：国金宏观宋雪涛/联系人孙永乐 年初经济平稳开局。 基于工业增加值和服务业生产指数同比增速，预计1-2月GDP不变价增速在5.2% 左右。而3月前三周的高频数据也显示月度GDP同比有望上行至5.4%左右， 对应1季度GDP同比增速 在5.3%左右 。其中，社零同比增长4%，略超市场预期，也处于2023年以来的区间上沿。 但是金融数据和通胀数据的表现一般。 受有效需求偏弱等因素拖累，1-2月CPI、PPI累计同比分别 为-0.1%、-2.2%；3月价格环比依旧偏弱，基于高频数据预测，3月PPI、CPI同比为-2%、0.6%， 对应一季度GDP平减指数为-0.7%，连续8个季度为负。 依靠政府债发行放量（1-2月政府债累计新增2.4万亿，同比多增1.5万亿），社融同比增速从去年末的 8%上行至2 ...

Investment Rating - The report does not explicitly state an investment rating for the real estate sector Core Insights - The second-hand housing market in 100 cities saw a total listing of 2.3717 million units in February 2025, representing a year-on-year increase of 33.2% [13] - The listing volume increased across all city tiers, with first-tier cities up by 29.6%, new first-tier cities by 26.0%, second-tier cities by 37.7%, and third and fourth-tier cities by 47.6% [13] - The housing search heat index for the second-hand market rose by 5.6% year-on-year in February 2025, with first-tier cities increasing by 10.0%, new first-tier cities by 7.9%, second-tier cities by 6.2%, and third and fourth-tier cities by 4.3% [20] - The average listing price per square meter in first-tier cities was 49,841 yuan, down 8.6% year-on-year, while new first-tier cities saw an average of 17,266 yuan, down 9.9% [12][20] Summary by Sections Listing Volume - In February 2025, the listing volume in first-tier cities was 746,000 units, new first-tier cities 594,000 units, second-tier cities 253,000 units, and third and fourth-tier cities 80,000 units [8][13] Search Heat Index - The search heat index for first-tier cities was 68.1, new first-tier cities 71.2, second-tier cities 71.5, and third and fourth-tier cities 75.2, showing increases across all categories [10][20] Listing Duration - The average listing duration was 112.3 days for first-tier cities, 94.9 days for new first-tier cities, 95.5 days for second-tier cities, and 104.2 days for third and fourth-tier cities, with year-on-year increases of 14.6%, 4.9%, 2.8%, and 6.0% respectively [11][29] Average Listing Price - The average listing price per square meter in first-tier cities was 49,841 yuan, new first-tier cities 17,266 yuan, second-tier cities 12,824 yuan, and third and fourth-tier cities 8,227 yuan, all showing year-on-year declines [12][20]

一线城市二手房市场迅速恢复中。 证券时报记者梳理，2月，北京二手住宅网签量同比大增了87.6%；广州二手房网签量同比增长29.04%；深圳二手房录得量也已经连续3周增长，恢复到了春节前的 水平。 接受证券时报记者采访的业内人士认为，北京二手房市场已经明显出现"小阳春"行情，广州、深圳等核心城市3月有望延续回稳态势，或出现"小阳春"行情。 北京二手房网签量同比大增87.6% 中原地产研究院统计数据显示，2025年2月，北京全市二手房累计网签达到了11876套，环比2025年1月份的12480套减少了4.8%，但同比2024年2月的6332套大增了 87.6%。 中原地产首席分析师张大伟指出，因为受到春节假期的影响，所以每年1—2月份北京二手房网签量变动较大。今年2月份虽然是春节月，但整体二手房网签量仍达 到了1万多套，同比明显上涨。 "特别是2月下半月，北京二手房市场整体明显复苏，周末二手房实际成交量达到每天1000套以上，市场已经明显开始出现'小阳春'行情。"张大伟说。 不过，张大伟同时指出，北京二手房挂牌量相比春节前有所增加，春节前整体市场挂牌量在14.6万套左右，春节后累计已经达到了15.3万套左右。同时 ...