美国二手房市场出现回暖迹象。 最新数据进一步印证了多位经济学家对住房市场在2026年前逐步改善的判断。今年5月一度接近7%的房 贷利率已回落至6.3%至6.4%区间，同时房价同比涨幅也明显放缓，这为近月签约量的小幅增长提供了 支撑。 智通财经APP获悉，根据全美房地产经纪人协会(NAR)周一公布的数据，11月美国成屋待完成销售 (Pending Home Sales)指数环比上升3.3%至79.2，创下2023年2月以来新高，升幅明显高于经济学家普遍 预期。 该指数衡量的是已签署购房合同但尚未完成交割的房屋数量。媒体对经济学家的调查显示，本次涨幅仅 低于一项预测，表明市场回暖具有一定广泛性。 NAR首席经济学家Lawrence Yun在声明中表示，"购房者动能正在增强"，主要得益于负担能力改善以及 可选择房源较去年增多。数据显示，二手房签约量已连续四个月上升，这一连涨周期与新冠疫情期间楼 市火热阶段的表现相当。 业内人士指出，二手房待完成销售通常被视为成屋销售的领先指标，因为房屋往往在正式成交前一到两 个月完成签约。本轮签约回升，或为未来几个月美国成屋销售走势提供积极信号。 不过，对于明年的市场前景，业内分歧 ...

坊间一直有个数据信号，关于12月上海楼市成交又破2万套，大概会站上2.2万套的数据。 这不是简单的房价下滑，而是刚需购买客群的本质性变化。现在的买房刚需，不是我们常规眼中的年轻 人、大学毕业生之类的。我一个中介朋友很直白地对我说："现在买一百多万房子的，都是在上海很多 年的务工人员。他们从来没想过，甚至没准备在上海买房，但是突然抬头一看，身边租的房子只要一百 多万，大家凑一凑首付现在完全可以，月供和租金都差不多了。"这件现象的发现，推动他们决定买 房。 核心逻辑在于，现在的主力成交不是我们身边的大多数。 不知道各位有没有意识到，最近咱们手机里的中介兄弟，很多微信名都加了一个后缀——"亲属过户代 办"。包括不少门店门头都开始醒目地写着"高品质的亲属过户代办只要2000"。 上海的手拉手交易一直都存在，而且占比一直庞大，中介为什么突然看上了这个蛋糕？简单来说，也是 迫于无奈。 第一，各家中介为了做市占率，其他的二手房交易做不上去，用这个做点市占率提升下数据规模；第 二，不少朋友过户完之后可能就是再买房，也是一次机会；第三，一个关键因素，用这种方式接触到真 正的购房者。 现在上海二手房成交的火热，背后的代价其实是二 ...

Core Viewpoint - The second-hand housing market in Shenyang has shown stable transaction volumes, with a peak of 4,667 units sold in a single month this year, driven by homeowners lowering prices to sell quickly and a niche group of buyers looking to capitalize on lower prices [1][3]. Group 1: Market Dynamics - In the past month, Shenyang recorded 3,002 second-hand housing transactions, indicating a steady market despite underlying pressures from price reductions by sellers [1]. - Key transaction areas include Shenyang Bei Daoyi (average price 5,700 yuan/sqm), Hunnan New City (average price 8,900 yuan/sqm), and others, with a significant concentration of sales in areas priced below 10,000 yuan/sqm [3]. - The market's apparent stability is supported by price differentiation, with a notable focus on lower-priced segments, particularly in the "5,000 yuan" regions [3]. Group 2: Investment Sentiment - The emergence of "old and small" properties priced at 200,000 yuan has become a notable trend, as these properties offer potential rental income that may yield returns faster than traditional investments [4]. - Some buyers view purchasing low-cost second-hand homes as a conservative investment strategy, aiming for rental income to cover mortgage payments and generate positive cash flow [4][7]. - The rental yield in Northeast China, particularly in Harbin and Shenyang, has surpassed 3%, making these investments appealing despite the risks associated with future rental price fluctuations [5][7].

2025.12. 23 作者 | 第一财经 马一凡、孙梦凡 年末已至，原本趋于平稳的二手房市场突然又热闹起来了，上海、北京双双上演"翘尾"行情。 今年上半年上海二手房成交量一路狂飙，7月份后虽然下行，但到了11月又开始抬升，全年数据不仅 轻松超越了去年，还创下近四年新高。 北京也有类似情况，11月、12月二手房成交套数环比增长，热门小区看房人络绎不绝。价格方面， 部分楼盘的业主甚至组起了"保价联盟"，生怕自家房价被"卷"下去。 这波行情背后，究竟是政策效应延续、供需关系变化还是以价换量？ "老破小挂牌一周就能卖掉" "最近，哪怕就是'老破小'，只要挂牌价合理，一周就能卖掉。"12月下旬，位于上海市普陀区某头 部中介曹杨板块门店工作人员对第一财经表示。 本文字数：2464，阅读时长大约4分钟 这名中介人士感觉到，临近年末，工作又忙碌起来了，市场出现成交量上行趋势。 而据上海市房地产交易中心披露数据统计，截至12月18日，今年上海二手房市场已累计成交24.39 万套，这一数据已经超越了2024年全年的24.27万套，更是显著高于2023年和2022年的数据，创 下近四年来的二手房成交量新高。 从全年成交走势来看， ...

Core Viewpoint - The second-hand housing market in Beijing and Shanghai is experiencing a year-end "tail-up" trend, driven by strong demand from first-time homebuyers and favorable policies [3][4]. Group 1: Market Trends - The second-hand housing transaction volume in Beijing increased by 19.52% month-on-month, with 14,446 units signed in November 2025, while Shanghai saw a 24% increase, reaching 22,943 units, marking a seven-month high [3]. - First-time homebuyers have become the dominant force in the second-hand housing market, with low-priced, high-value properties gaining significant traction. In Beijing, properties priced below 2 million yuan accounted for 57.19% of transactions, while in Shanghai, this figure was 48.72% [3]. Group 2: Challenges in the Market - Both buyers and sellers face multiple challenges in the current second-hand housing market, including high listing volumes and long transaction cycles. Buyers struggle to filter through numerous listings for suitable properties, while sellers contend with intense competition and uncertain pricing negotiations [4]. - The traditional real estate agency model is becoming inadequate as it relies solely on information matching, necessitating new service models to enhance transaction efficiency and certainty [4]. Group 3: Innovative Service Models - The introduction of innovative service models is underway in the second-hand housing market, with companies like Ziroom launching "Ziroom Meijia Second-hand Housing" to address changing transaction structures and service demands. This model emphasizes single-sided service for buyers or sellers, avoiding conflicts of interest [5][7]. - The service model includes a focus on high-quality properties and various upgrades for different types of listings, such as "clean water houses" for older properties and "refreshed houses" for those in better condition, enhancing both visual appeal and living experience [7][8]. - The commission discount policy aims to make transactions more affordable for both sellers and buyers, contributing to increased viewing rates and conversion for agents, thus creating a win-win situation for all parties involved [10].

美国11月份二手房销售微升，房价涨势放缓和按揭利率回落对买家带来一定提振。 根据美国全国地产经纪商协会（NAR）周五公布的数据，上月二手房成交量小幅增长0.5%，至折年率 413万套。这是自2月份以来的最高水平，但未经调整的成交量同比下降7%。 与此同时，售价中值同比上涨1.2%，达到409，200美元。这是自2023年年中以来最弱涨幅之一。 "由于今年秋季抵押贷款利率下降，二手房销售已连续第三个月上升，"NAR首席经济学家Lawrence Yun 在声明中表示，"然而，库存增长开始停滞。" 11月，市场上在售的二手房供应量环比降至143万套，近几个月来基本持平。Yun表示，这是因为卖方 并不急于出售，而是选择下架房源，等到春季销售旺季再重新挂牌。按当前销售速度计算，库存相当于 4.2个月的供应量，为3月份以来最弱。 销售状况的改善显示二手房市场正在逐步回升，许多分析师预计这一趋势将持续到2026年。房价涨幅正 在放缓，部分城市甚至出现下跌，而按揭利率已稳定在6.3%至6.4%区间，低于5月份时接近7%的水平。 NAR预计明年销售将增长14%，高于多数其他预测，但Yun表示他对这一数字"充满信心"。 责任编辑 ...

美国全国地产经纪商协会数据显示，11月份二手房销量折年率为413万套，而预估中值为415万套。 55位经济学家的预估区间为401万至425万， 11月份二手房销量环比增长0.5%，此前10月份增长1.5%； 房价中值同比上涨1.2%，至409，200美元，但仍处于3月份以来最低。 11月份二手房销量环比增长0.5%，此前10月份增长1.5%； 房价中值同比上涨1.2%，至409，200美元，但仍处于3月份以来最低。 责任编辑：丁文武 责任编辑：丁文武 美国全国地产经纪商协会数据显示，11月份二手房销量折年率为413万套，而预估中值为415万套。 55位经济学家的预估区间为401万至425万， ...

新华财经上海12月19日电（谈瑞） 据上海市房地产交易中心披露数据统计，截至12月18日，上海二手 房市场2025年已累计成交243876套。这一数据已经超越了2024年全年的242699套，更显著高于2023年的 192543万套，创下近三年来的成交新高。 从买卖双方心态来看，上海二手房房东的出售意愿依然强烈，但"急售"情绪已有所缓和。一方面，在经 历了长时间的博弈后，部分房东选择下调挂牌价格以促成交易，这直接推动了成交量的回升。另一方 面，购房者的观望情绪有所退潮，部分房源价格达到心理预期区间后，对价格敏感度较高的买家已经开 始积极入市，例如近期交易数据就显示，总价在200万元以下的"老破小"房源已经成为上海二手房市场 中占比近半的交易"主力"。随着挂牌量的逐步消化和价格的合理调整，市场有望迎来更加健康、平稳的 发展态势。 （文章来源：新华财经） 从月度成交套数的走势来看，2025年上海二手房市场呈现出"金三银四"的典型特征。3月份成交量达到 29345套，为全年单月最高点；4月份虽有所回落，但仍维持在23416套的高位。进入下半年，市场热度 有所降温，成交量基本稳定在1.9万至2.1万套的区间内。到11 ...

Group 1 - The core viewpoint of the articles highlights a significant rebound in the second-hand housing market in Beijing and Shanghai, driven by strong demand from first-time homebuyers and favorable policies [1][2] - In November 2025, Beijing's second-hand residential transactions reached 14,446 units, a month-on-month increase of 19.52%, while Shanghai's transactions (including commercial properties) hit 22,943 units, up approximately 24%, marking a seven-month high [1][2] - The first-time homebuyer segment has become the dominant force in the second-hand housing market of major cities, with low-priced, high-value properties seeing a notable increase in transaction volume [2] Group 2 - Both buyers and sellers in the second-hand housing market face multiple challenges, including a high volume of listings and lengthy transaction cycles, leading to increased difficulty in finding suitable properties and completing sales [3] - The traditional real estate brokerage model is becoming inadequate in meeting market demands, necessitating the development of new service models that enhance transaction efficiency and certainty [3][4] - Innovative service models are emerging in the second-hand housing market, such as "Ziroom Meijia," which offers tailored services for buyers and sellers, aiming to improve the overall transaction experience [4][5] Group 3 - The "Ziroom Meijia" service focuses on providing high-quality housing options and reducing transaction costs through a commission discount policy, benefiting both sellers and buyers [5] - Experts believe that as the real estate market shifts back to its "residential essence," innovative service models like "Ziroom Meijia" will enhance service quality, streamline transaction processes, and shorten transaction cycles [6] - With ongoing policy support, accelerated service model innovation, and improved market supply and demand dynamics, the second-hand housing market in major cities is expected to maintain relative resilience in the long term [6]

Core Viewpoint - The second-hand housing market in key cities is experiencing a slowdown in transaction momentum, with November 2025 showing a 14% month-on-month increase in transaction volume, but a year-on-year decline of 20%, indicating a narrowing cumulative year-on-year growth rate of 3% [2][13]. Group 1: Transaction Structure Changes - The proportion of transactions for properties priced below 2 million yuan has significantly increased, with Shanghai seeing 49.71% of transactions in this price range in November 2025, marking a 0.99 percentage point increase month-on-month and a 13.12 percentage point increase year-on-year [4][5]. - The demand for properties priced between 3 million and 10 million yuan in Beijing and Shanghai has collapsed, with all segments showing a decline in transaction volume, attributed to the diversion of buyers to new housing and prolonged transaction cycles for second-hand properties [4]. - In Shenzhen and Hangzhou, there is a phase of recovery in demand for mid-to-high-end properties, with notable increases in transaction volumes for properties priced between 8 million and 30 million yuan in Shenzhen and 3 million to 6 million yuan in Hangzhou [4]. Group 2: Area and Size Preferences - The majority of transactions in the second-hand housing market are concentrated in properties sized 70 square meters or less, with this segment accounting for over 30% of transactions in major cities, particularly in Shenzhen where the concentration is increasing [8]. - Larger properties, such as those between 100-140 square meters in Beijing and 140-160 square meters in Shanghai, are also seeing an increase in transaction volumes, indicating a preference for more spacious homes that meet self-occupancy needs [8]. Group 3: Regional Transaction Trends - In Shanghai, the transaction volume is increasingly concentrated in suburban areas like Minhang and Pudong, while in Beijing, Shenzhen, and Hangzhou, the focus remains on core urban districts such as Haidian and Chaoyang in Beijing and Futian in Shenzhen [10]. - The concentration of transactions in key areas of Shanghai is rising, with significant month-on-month increases in transaction volumes in top regions like Pudong and Minhang [10]. Group 4: Market Outlook - The second-hand housing market in key cities is expected to continue experiencing low-level fluctuations in December, with prices remaining in a downward cycle. The trend of "price for volume" is likely to persist, influenced by the availability of new listings and quality products in the new housing market [13].