China Index Academy: The month-on-month decline in the prices of second-hand houses in 100 cities in February continued to narrow.

The report from the China Index Research Institute pointed out that due to the Spring Festival holiday, the market listing and trading activity in February seasonally declined. The average price of second-hand residential properties in 100 cities was 12,835 yuan per square meter, with a month-on-month decrease of 0.54%, narrowing by 0.31 percentage points compared to the previous month, and a year-on-year decrease of 8.78%. The report released by the China Index Institute stated that during the Spring Festival holiday, the willingness of owners to list and adjust prices decreased to some extent, which slowed down the downward trend in prices. The current market is still in the process of adjustment. With the traditional "small spring" peak season after the holiday, March will be an important point to observe the changes in the market trend, and its performance in terms of volume and price will have a significant impact on the annual expectations. In terms of new homes, during the holiday period, many local governments and real estate companies have launched activities such as home buying festivals and price promotions, but there are relatively few new projects released, mainly focusing on the clearance of existing projects. The average price of new residential properties in 100 cities in February was 17,107 yuan per square meter, with a slight decrease of 0.04% compared to the previous month, and an increase of 2.37% year-on-year. "Overall, 2026 is a crucial year for the stabilization of the real estate market. The initial performance will set the tone for the year. The support role of real estate in stabilizing economic growth remains important," the report said.