The National Bureau of Statistics released housing price data for 70 cities, showing that in August, among the 70 large and medium-sized cities, the sales prices of commercial residential properties in various tier cities decreased month on month, and the year-on-year decline continued to narrow overall. From the perspective of new houses, the price index of newly-built commercial residential properties in 70 cities across the country in August increased by -0.3% month on month and -3.0% year-on-year, indicating improvements in both month on month and year-on-year indicators. Yan Yuejin, Vice President of Shanghai E-house Real Estate Research Institute, analyzed that the national real estate market showed a positive trend in August, and after passing the market off-season in July, the market further moved towards a stabilization trend. The housing policies in various regions are very relaxed, and the supply of good housing has been increased, which objectively promotes the improvement of the sales market. From the perspective of cities, the decline in first tier cities has once again widened, from -0.1% last month to -0.2%, while the decline in second tier cities has narrowed, from -0.4% to -0.3%. Third tier cities have maintained a level of -0.3% for four consecutive months. Yan Yuejin believes that from such indicators, the month on month indicators of second tier cities are actively improving, while the year-on-year indicators of third tier cities are also actively improving. This shows that the real estate market around the country is moving towards the bottom, which in turn shows that the current cost performance ratio of house purchase is very high, that is, the price foam is gradually decreasing. The performance of second-hand housing data is slightly different from that of new housing. From the data, the second-hand housing price index in 70 cities across the country increased by -0.6% month on month and -5.5% year-on-year in August. The month on month decline in second-hand housing in August has widened. The price of second-hand houses is still in the process of adjustment. Overall, if second-hand houses do not actively lower their prices, there are still many options available on the market, so the price of second-hand houses will continue to adjust. ”Yan Yuejin analyzed that. Li Yujia, Chief Researcher of Guangdong Housing Policy Research Center, pointed out that due to factors such as comprehensive competition in quality between new and second-hand houses, the number of second-hand house listings continues to rise. In August 2025, the overall number of second-hand house listings in 100 cities across the country increased by 9.69% year-on-year, reaching 2.5464 million units. Looking ahead to the future trend of the real estate market, Cao Jingjing, General Manager of the Index Research Department of the China Index Research Institute, pointed out that the real estate market has entered the traditional marketing peak season of "Golden September". Real estate companies are expected to accelerate their pace of promotion in core cities, especially with the entry of new regulations into the market, which will effectively drive some improvement in demand release, and market activity may usher in a phase of recovery. The short-term listing volume of the second-hand housing market is still at a high level, but in core cities, driven by policies and the "price for volume" policy, the transaction cycle and bargaining space are expected to improve, and the sentiment of the real estate market is expected to improve. We should actively do a good job in boosting the real estate market during the 'Golden September and Silver October' period. Various regions should take effective measures to consolidate the stabilization of the real estate market. At present, there are sufficient policies in various regions, and it is necessary to continue to expand marketing channels, especially by promoting policies and projects in commercial plazas and other scenes, to promote market transactions. ”Yan Yuejin suggested. (New Society)