On April 16th, the National Bureau of Statistics released data showing that in March 2025, the activity of housing market transactions increased. Among 70 large and medium-sized cities, the number of cities with a month on month increase in sales prices of commercial residential properties increased; The sales prices of commodity residential properties in first tier cities have increased month on month; The year-on-year decline in sales prices of residential properties in various tier cities continues to narrow. Zhang Bo, the director of the 58 Anjuke Research Institute, told reporters that the housing price data in 70 cities in March reflects a "small spring" in the real estate market, with significant recovery in first tier cities. The structural recovery of the real estate market under policy support has verified the actual effect of the transmission from the "policy bottom" to the "market bottom". However, the fundamental improvement of the supply-demand relationship still needs time, and the differentiation between cities is still a long-term theme. In the future, attention should be paid to the linkage between policy implementation effects and the economic environment. The overall stability of housing prices in the first quarter can be seen from the month on month perspective. In March, the sales prices of newly-built commercial residential properties in first tier cities increased by 0.1% month on month, the same as in February. Among them, Shanghai and Shenzhen rose by 0.7% and 0.1% respectively, while Beijing and Guangzhou fell by 0.2% and 0.1% respectively. The sales prices of second-hand residential properties in first tier cities have changed from a 0.1% decrease in February to a 0.2% increase compared to the previous month. Among them, Beijing, Shanghai, and Shenzhen rose by 0.5%, 0.4%, and 0.3% respectively, while Guangzhou fell by 0.2%. In March, the sales prices of newly-built residential properties in second tier cities remained unchanged compared to the previous month, the same as in February; Second hand residential properties decreased by 0.2% month on month, narrowing the decline by 0.2 percentage points compared to February. The sales price of newly-built commercial residential properties in third tier cities decreased by 0.2% month on month, with the decline narrowing by 0.1 percentage points; Second hand residential properties decreased by 0.3% month on month, narrowing the decline by 0.1 percentage points. The performance of 'price for quantity' for second-hand houses in second - and third tier cities is evident. Although the prices of second-hand houses have decreased month on month, the market heat continues to rise. Based on data from Anjuke, confidence is indeed recovering. The shortened transaction cycle and continuous decline in the duration of second-hand housing on the market indicate that homebuyers are accelerating their entry into the market, driving prices to bottom out and rebound Zhang Bo said. In March, among 70 large and medium-sized cities, 24 cities saw a month on month increase in the sales prices of newly-built residential properties, an increase of 6 cities compared to February; There are 10 cities with a month on month increase in second-hand residential properties, an increase of 7 cities compared to February. Sheng Laiyun, Deputy Director of the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that the overall stability of housing prices in the first quarter. According to monitoring data on housing prices in 70 large and medium-sized cities, there were positive changes in prices in March for both first tier and second - and third tier cities, as well as for both new and second-hand properties. In March, the sales prices of second-hand residential properties in first tier cities increased month on month, while the decline in sales prices of residential properties in second - and third tier cities narrowed. From this perspective, the effects of real estate regulation policies are still evident. Market transactions continue to improve. Data shows that in the first quarter, the sales area of newly-built commercial housing in China decreased by 3% year-on-year, a decrease of 9.9 percentage points compared to the whole year of last year and a decrease of 2.1 percentage points compared to the first two months; Sales decreased by 2.1%, a decrease of 15 percentage points compared to the entire year last year and a decrease of 0.5 percentage points compared to the first two months. According to the monitoring of 40 key cities, the sales area and sales revenue of newly built commercial housing increased by 1.2% and 4.4% respectively in the first quarter. The overall performance of first tier cities is good, with a 0.6% increase in the sales area of newly-built commercial housing in the first quarter and a trend towards active market transactions. Wang Xiaoyuan, Chief Analyst of Linping Residential Big Data Research Institute, told reporters that the transaction performance of the new housing market at the beginning of this year was better than expected, and the decline in transactions showed a significant narrowing compared to last year. With the continued favorable policies and upgrading of new housing products, the decline in transaction volume in the second quarter is expected to turn positive. Sheng Laiyun stated that under the influence of policies, the real estate market continues to stabilize and stabilize, and market transactions continue to improve. Since the fourth quarter of last year, relevant departments have formulated a series of policies to improve real estate investment, increase the renovation of old urban communities, intensify the construction of affordable housing, propose a "whitelist" system for real estate enterprises, and provide support for financial loans. At the same time, the operating conditions of real estate enterprises have also improved. In the first quarter, among the funds received by real estate development enterprises, the decline in domestic enterprise loans narrowed by 3.8 percentage points compared to the previous two months, and the decline in personal mortgage loans narrowed by 4.7 percentage points. This also reflects the continued effectiveness of policies to promote the stabilization of the real estate market. In Wang Xiaoyuan's opinion, in the first quarter, driven by the improvement in sales, the industry's available funds also showed significant improvement. At the same time, the domestic loan environment is relaxed, and measures to support real estate financing are actively being implemented. Overall, the real estate market is still in the adjustment stage, and market demand needs to be further released. From the perspective of development space, the overall consumption structure in China is still in the process of upgrading, and the real estate market has huge growth potential. Residents have a high demand for green, spacious, and comfortable 'good houses' Sheng Laiyun stated that the next step is to conscientiously implement a series of policy measures, continuously increase the construction of "good houses", actively build a new model for real estate development, and promote the sustainable and healthy development of the real estate industry. (New Society)