Urban Research Institute: In October, the average price of second-hand homes in 100 cities was 13,268 yuan per square meter, a year-on-year decrease of 7.60%.

According to the analysis of the China Index Academy, based on the survey data of the sales market for new and second-hand residential properties in 100 cities nationwide and the rental market in 50 cities using the China Real Estate Index System: In October, the average price of second-hand residential properties in 100 cities was 13,268 yuan per square meter, a month-on-month decrease of 0.84%, an expansion of 0.1 percentage point from the previous month, and a year-on-year decrease of 7.60%. Due to the high listing volume and weak expectations, there is still significant downward pressure on the prices of second-hand houses. In terms of new housing, in October, many real estate companies launched high-quality improvement projects during the National Day holiday, driving the month-on-month structural increase in the prices of new residential properties in 100 cities. The average price of new residential properties in 100 cities in October was 16,973 yuan per square meter, a month-on-month increase of 0.28% and a year-on-year increase of 2.67%. As for rental housing, in October, the housing rental industry gradually entered the traditional off-season, with the average rent for residential properties in 50 cities being 34.57 yuan per square meter per month, a month-on-month decrease of 0.49% and a year-on-year decrease of 3.63%.