Institution: Transactions in the first-tier city housing market are picking up, with the inventory of second-hand homes in Shanghai declining for 9 consecutive months.

In the beginning of 2026, the second-hand housing market in many areas continues to show a thriving trend. Data monitored by institutions shows that there is a positive change in the heat rebound in the core areas of first-tier and strong second-tier cities. The transaction volume in Beijing, Shanghai, and Shenzhen, the three major first-tier cities, has picked up, and data from intermediary platforms shows that the number of second-hand houses listed for sale in Shanghai has been decreasing for 9 consecutive months, gradually leading to a more balanced supply and demand relationship.