Existing Housing: There is a Price, But No Market

iFeng: 二手房市场严重分化,部分城市有价无市
Recently, the statistics of market institutions show that although the price of existing homes in hotspots in first- and second-tier cities in August is much higher than that in third- and fourth-tier cities, from the perspective of transactions, there is generally a priceless market.

According to data released by Zhuge Fangfang.com , in August, the average price of existing homes in 100 cities monitored was 14,935 yuan/square meter, up 1.3% from the previous month. Among them, the average price of existing homes in first-tier cities is 57,406 yuan / square meter, which is 5.94 times the average price of listed cities in third- and fourth-tier cities.

...According to Wang Wei, a researcher at the Yiju Real Estate Research Institute, from the monitoring data of Yiju, the number of existing homes in 10 key cities monitored in August was 61,000, down 5% from the previous month and up 2% from the same period last year. In the past three months, exising home transactions in 10 cities have continued to decline.

"This also shows that existing housing transactions are facing downward pressure." Wang Wei analysis believes that "by the influence of continuous regulatory policies, buyers are less motivated to enter the market. At the same time, the supply of new homes in some cities has increased, some buyers may give up on the existing home purchase, turn to new homes."

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