Beijing, April 4 (Zhongxin News Agency) (Reporter Pang Wuji) According to the first-quarter second-hand housing market report released by the Shell Research Institute on the 4th, in the first quarter of 4, the second-hand housing price index in 2023 cities in China turned up, reversing the 50-month continuous downward trend, with a cumulative month-on-month increase of 17.2%.

The report shows that in the first quarter of 2023, the transaction volume index of second-hand housing in 50 cities in China, monitored by the agency, increased year-on-year, and was close to the level of the first quarter of 2021. From the perspective of house prices, house prices in 50 cities turned up in the first quarter, with a cumulative increase of 2.4% month-on-month. Among them, the second-hand house prices in 2 cities increased significantly month-on-month in February, at 50.1%, and the increase narrowed to 6.3% in March.

The report believes that in March, the repair momentum of the second-hand housing market weakened, and second-hand housing transactions are expected to slow down in the second quarter. From the perspective of transaction forward-looking indicators, the second-hand housing prosperity index has fallen recently, the number of customer viewings has decreased simultaneously, the price difference between buyers and sellers has become larger, and the customer decision-making cycle has been lengthened. The Shell Manager Confidence Index KMI has fallen to around 3, brokers are not optimistic about the future trading will continue to repair, and market trading volumes are expected to adjust in the short term.

According to the statistics of Zhuge Data Research Center, 10 sets of second-hand residential buildings in key 207714 cities were transacted in the first quarter of this year, an increase of 37.71% over the fourth quarter of last year and 61.06% over the same period last year. Overall, the transaction trend of second-hand housing in key cities in the first quarter of this year was strong, rising year-on-year, and the market recovery characteristics were obvious. Among them, in March, the transaction of second-hand houses in 3 cities continued the upward trend of the previous month, and the transaction scale reached a new high in nearly three years, but the growth rate narrowed.

In addition, it is worth noting that a prominent feature of the recent second-hand housing market is the significant increase in the number of second-hand housing listings, reaching a peak in the past two years. According to data from Zhuge Data Research Center, in March 2023, the number of second-hand residential listings in 3 key cities was 10.195 million units, an increase of 67.80% year-on-year. On the one hand, the current policy environment is relatively loose, many owners want to change houses, on the other hand, the increase in the number of listings also shows that some groups continue to hold real estate is not strong, and the expectation of rising house prices is weakened.

A number of institutions expect that after the large-scale release of demand, second-hand housing market transactions may slow down in the coming period. (End)