CRIC Real Estate Research: In July, the year-on-year decline in new home transactions in 15 key cities across the country narrowed, while the resilience of second-hand housing remained evident at high levels.

According to the Zhiyun Financial APP, CRIC Research stated that in July 2026, the real estate market will enter the traditional seasonal off-peak period, showing overall characteristics of "new home market adjustment during the off-season and stability in second-hand homes." In major cities, the supply and demand for new homes will weaken in tandem compared to the previous month, with market activity significantly retreating from the peak levels seen at the end of June. Meanwhile, the second-hand home market will maintain high levels of activity, supported by replacement demand and "price-for-volume" strategies, continuing to show positive year-on-year growth. It is expected that the supply and transaction volume in the new home market in August will likely continue to weaken compared to the previous month; the second-hand housing market will remain strong due to replacement demand, but may see a slight month-on-month decline.