On 16 march, the national institute of statistics published data on 70 urban housing prices in february 2026, which, in one sentence, concluded that the number of cities whose housing prices had stopped falling had reached a new high since the second half of 2025。
It's not a small signal. A lot of friends may have painted all kinds of readings, saying, “the city warms up”, or waiting to see, “is it time to get in the car?” today i'm going to break this set of data into pieces in words that we ordinary people understand. I'm going to tell you what to think of the city。
What's the concept
Let's look at the most intuitive data, not the complex terminology。
In february, in 70 large and medium-sized cities, the price of new homes increased by 10, evenly by 7 and a total of 17 cities were “stopping” and 9 more than last month. What is this concept? It is a growing number of cities, from “downside” to “stable” housing prices, which are even starting to increase。
A further breakdown:
- front-line cities: the fall has been completely halted! Beijing and shanghai have increased the new house ring ratio by 0. 2 per cent, guangzhou is flat, only shenzhen is still falling, but the fall has narrowed. It's a good spot, and the first-line cities have always been the “windmarks” of the city, and they have stabilized and are a positive sign for the national market。
- 2nd and 3rd-line cities: while falling, the drops are shrinking. New houses fell by 0. 2 per cent and 0. 3 per cent respectively, 0. 1 percentage points less than last month. This indicates that the downward trend is slowing and the market is slowing down。
The second-hand house market has also been active, with four cities that have stopped falling, which is also a recent high. Second-hand houses in beijing and shanghai increased by 0. 3 per cent and 0. 2 per cent, respectively, to become “head sheep” in the second-hand markets。
Summarizing: the whole body is still low, but the number of cities that have stopped falling is increasing, the number of cities that have fallen is decreasing and markets are stabilizing。
Why did you suddenly stop falling? These three reasons concern each of us
A lot of people wonder why it suddenly stopped. What's the big deal? And behind that is a combination of policies, needs and expectations that we ordinary people can see。
1. Policy has been stretched to the bottom and strong enough
Between the end of 2025 and now, more than 100 cities across the country have introduced a housing market support policy, which has largely been liberalized by restrictions on purchases, loans and sales. The “privileged house” covers almost all of the country, and many families, talent and preferences have fallen to land。
In short, the threshold for buying a house is down and the cost is low. For example, down payment rates, mortgage rates are favourable, and the policy end has been in the city, giving the market “concerts”。
2. The need to improve demand has finally come true
After a period of adjustment, the housing price bubble was almost squeezed, and many felt “priced”. This, together with policy support, has led to the start of the process for those groups that already have a need to buy a house or to improve their homes。
Data show that beijing cumulatively closed more than 23,000 units in january-february, which is higher than the average for the same period over the last decade, with clear indications of full price increases. When the market deals, confidence comes back。
Developers are also adjusting their houses to become more “terrestrial”
It is now more rational for developers to take land and build houses, no longer blindly develop, but rather to build new and improved houses, which are more practical and affordable. At the same time, they are increasing their marketing efforts to provide more tangible benefits to home buyers and to stimulate a deal。
Core highlight: not "up and down," but "up and back."
A particularly critical feature of this decline — structural fragmentation — is that not all cities rise together, but both have and have and have。
1. First-line cities rise and core cities take the lead
Beijing, shanghai, and the new houses and the second-hand houses have risen, serving as “pressure stones”. This indicates that the core cities are the most stable in basic terms and are the most resilient to risk。
2. Second-line cities follow and the stairs are repaired
Like changchun, nanjing, yichang, the new ring rose by 0. 3 per cent, the highest increase. These cities have a certain industry and population base, and rehabilitation is fast。
3. The 3rd and 4th lines of urban synchronization, although still falling, is slow
Three and four-line cities have not stopped falling, but the drop has narrowed by 0. 1 percentage points. This suggests that the general trend in the national market is positive, except for the recovery of the rhythm。
This division also tells us one thing: in the future, a house can no longer be bought “closedly”, looking at the city, looking at the ground, looking at the needs. Core cities have the strongest risk resistance。
What do ordinary people do? Three practical advice, no pedals
How are we supposed to do this? Don't panic. I'll give you three solid suggestions. Just do it。
Extremist: stop waiting for the bottom to see your needs
For immediate needs, the house was purchased for housing, not for investment. Markets have now stabilized, and good houses and prices in the core cities are reasonable。
If you have a steady job and you can afford a mortgage, don't bet on the house price again. Instead of waiting for an uncertain “minimum point”, it would be better to seize the “reasonable point” at hand and to live in their own house earlier。
Improving communities: seizing the “old for new” window period
The policy now supports “selling old and new”, and the threshold and interest rates for the two suites are relatively friendly. If you want to change a big house, a good place, while the market warms up now, the replacement costs are lower and the process better。
Improved demand housing, mobility and preservation are also better, with early changes and better living conditions。
3. Investors: stop blinding the room and pick the right track
The old age of "buying a house without eyes" is long past. It is time to invest in the city and to choose the cities and assets。
Priority is given to the core plots and sub-news of first-line and second-line cities, which are well mobile and value-added. Don't touch the non-core parts of the cities on the 3rd and 4th lines, or the houses in the far suburbs that have no population and no industrial support。
The city is rational and ordinary people are more stable. Head
The number of cities that have seen the fall in the price of housing is a very positive sign that chinese real estate is entering a new phase of smooth and healthy development。
The state's policy has been centred around “stable housing prices, steady expectations, and secure livelihoods”, not to make housing prices soar or so that they fall, but rather to return them to their residential properties so that ordinary people can afford and live well。
For us ordinary people, a rational view of market volatility, decision-making based on our own needs, not blindness, no anxiety, is the best response。
Finally, i'd like to ask you: have you been in a city where the price of the house has stopped falling? Do you have plans to buy or change a house? You're welcome to share your views in the comment area. We'll share them。
