The National Bureau of Statistics released housing price data for 70 large and medium-sized cities in January 2026 yesterday (13th). In January, the overall month on month decline in housing prices in first, second, and third tier cities narrowed. Zhang Bo, the director of 58 Anjuke Research Institute, stated that in January, the core characteristics of structural adjustment and bottoming out repair of housing prices in large and medium-sized cities continued. Although the overall housing prices have not escaped the downward trend, the resilience of the demand side has become prominent, and positive signals from the circulation side have increased. The overall real estate market is steadily stabilizing and recovering, and the dual role of policy support and market spontaneous repair is gradually emerging. Especially in January, second-hand houses in core cities stabilized first, which is the result of the combined effect of policy factors and market confidence repair. ”Zhang Bo said. According to data from the National Bureau of Statistics, in January, the prices of second-hand houses in first tier cities decreased by 0.5% month on month, narrowing the decline by 0.4 percentage points compared to the previous month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen decreased by 0.2%, 0.4%, 0.7%, and 0.6% respectively. 2、 The prices of second-hand houses in third tier cities decreased by 0.5% and 0.6% month on month, respectively, with the decline narrowing by 0.2 and 0.1 percentage points, respectively. In terms of new houses, the prices of new houses in first tier cities decreased by 0.3% month on month, the same decrease as last month. Among them, Shanghai remained unchanged, while Beijing, Guangzhou, and Shenzhen decreased by 0.3%, 0.6%, and 0.4% respectively. The prices of new houses in second tier cities decreased by 0.3% month on month, narrowing the decline by 0.1 percentage points. The price of new houses in third tier cities decreased by 0.4% month on month, the same decrease as last month. Zhang Bo's analysis further highlights the differences in energy levels among different tier cities in the new housing market. Among them, first tier cities have relied on their core resource endowments and demand resilience to stabilize new housing prices on a month on month basis, becoming the core anchor point for stabilizing prices in the national market; The prices of new houses in first - and second tier cities have fluctuated slightly month on month, while the market activity in cities such as Wuhan, Qingdao, and Jinan has significantly increased, becoming an important lever for regional market recovery. Entering 2026, clear signals of "stable expectations" have been released at the policy level, and multiple specific measures have been implemented at the beginning of the year, including the extension of the housing replacement tax rebate policy, the extension and structural interest rate reduction of loans for whitelist projects, and support for urban renewal. As the Spring Festival approaches, in order to seize the opportunity to return home and purchase properties, many local governments have introduced a new round of measures to boost the real estate market. Real estate companies in various regions have also launched Spring Festival housing discount activities, including house price discounts, special priced properties, additional discounts, home appliance gift packages, free parking spaces, tourism funds, and so on, in various forms. Zhang Bo believes that the bottoming out and stabilization of the second-hand housing market in January, the recovery and recovery of the brokerage industry, and the high attention of homebuyers to second-hand housing have provided solid fundamental support for the activity of the Spring Festival real estate market. During the Spring Festival, the return of home buyers, promotion by real estate companies, and policy overlap have further amplified the signal that the market may recover. Meng Xinxin, a senior analyst at the Zhongzhi Research Institute, said that looking ahead to the future, as high-quality land parcels sold in core cities gradually enter the market in 2025, and some real estate companies are expected to increase their promotional efforts to attract customers before the Spring Festival, market demand is expected to gradually release in March. The "Xiaoyangchun" market in core cities is still worth looking forward to. (New Society)