Middle Finger Research Institute: The overall performance of new and second-hand housing markets in core cities remained stable in the first half of the year. "Good city + good house" showed strong resilience.

According to the Wisdom Financial APP, the China Real Estate Research Institute stated that under a package of policies that began on September 26 last year, the real estate market in the first quarter of 2025 continued to show signs of recovery, achieving certain results in stabilizing prices. Since the beginning of the year, the overall performance of new and second-hand housing markets in core cities has remained stable, showing strong resilience in "good cities + good houses." The land market has also shown signs of recovery, but market momentum has weakened since the second quarter. In the first half of the year, policy orientations have continued to release positive signals. The central political bureau meeting in April pointed out the need to "continuously consolidate the stable trend of the real estate market," emphasizing "increasing the supply of high-quality housing" and optimizing the policy for purchasing existing inventory homes. The State Council meeting on June 13 once again emphasized the need for "greater efforts to stabilize the real estate market" and to "further optimize existing policies, enhance the systematic effectiveness of policy implementation," and explicitly stated the policy direction of "stabilizing expectations, activating demand, optimizing supply, and resolving risks," injecting confidence into the market.