Middle Finger Research Institute: Second-hand housing prices in 100 cities in May saw a decrease in month-on-month decline, with Shanghai seeing continuous increases for three consecutive months.

According to the Zhongzheng Research Institute, the average price of second-hand residential properties in 100 cities in May was 12,692 yuan per square meter, a month-on-month decrease of 0.32%, which narrowed by 0.14 percentage points compared to the previous month, and a year-on-year decrease of 7.99%. In terms of different tiers, the month-on-month decreases in first-tier, second-tier, and third- and fourth-tier cities in May were 0.15%, 0.34%, and 0.38%, respectively. The month-on-month decrease in first-tier cities narrowed by 0.01 percentage point compared to the previous month, with Shanghai showing an increase of 0.13% and Shenzhen a slight decrease of 0.04%. Price recovery is more obvious in these cities. The month-on-month decreases in second-tier and third- and fourth-tier cities narrowed by 0.17 and 0.16 percentage points, respectively, compared to the previous month. In terms of year-on-year changes, first-tier, second-tier, and third- and fourth-tier cities decreased by 7.32%, 8.54%, and 7.74%, respectively. In terms of the number of cities with price changes, 12 cities saw an increase in prices, 87 cities saw a decrease, and 1 city remained unchanged.