--- title: "January 70 Cities Housing Prices: The month-on-month decline in first, second, and third-tier cities has generally narrowed, while the year-on-year decline continues to expand" type: "News" locale: "en" url: "https://longbridge.com/en/news/275838853.md" description: "The month-on-month decline in second-hand housing prices in first-tier cities has improved, and the month-on-month decline in second- and third-tier cities has also narrowed. However, compared to the same period last year, the decline in first-, second-, and third-tier cities has all widened. In terms of new housing, the month-on-month decline has narrowed while the year-on-year decline has expanded. First-tier cities saw a year-on-year decrease of 2.1%, with Shanghai rising against the trend by 4.2%, while Beijing, Guangzhou, and Shenzhen fell by 2.4%, 5.3%, and 4.9%, respectively" datetime: "2026-02-13T02:22:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/275838853.md) - [en](https://longbridge.com/en/news/275838853.md) - [zh-HK](https://longbridge.com/zh-HK/news/275838853.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/275838853.md) | [繁體中文](https://longbridge.com/zh-HK/news/275838853.md) # January 70 Cities Housing Prices: The month-on-month decline in first, second, and third-tier cities has generally narrowed, while the year-on-year decline continues to expand On February 13, the National Bureau of Statistics released data showing that in January 2026, the month-on-month decline in commodity residential sales prices in 70 large and medium-sized cities generally narrowed, while the year-on-year decline continued. Specifically, the month-on-month decline in second-hand residential prices in first-tier cities narrowed the most, decreasing by 0.4 percentage points to 0.5% compared to the previous month, indicating a slowdown in the adjustment speed of the second-hand housing market in core cities. The month-on-month decline in new commodity residential prices in second and third-tier cities narrowed by 0.2 and 0.1 percentage points, respectively. However, from a year-on-year perspective, the downward pressure on housing prices in all tiers of cities remains significant. The year-on-year decline in second-hand residential prices in first-tier cities fell by 7.6%, with the decline expanding by 0.6 percentage points compared to the previous month, and all four first-tier cities saw year-on-year declines exceeding 6.5%. The year-on-year decline in new commodity residential prices also expanded. ## Second-hand Housing: Significant Slowdown in Month-on-Month Decline in First-tier Cities In terms of month-on-month data, the improvement in the decline in first-tier cities is the most significant, while the month-on-month declines in second and third-tier cities also narrowed. Specifically: > The month-on-month sales price of second-hand residential properties in first-tier cities decreased by 0.5%, with the decline narrowing by 0.4 percentage points compared to the previous month. > > The month-on-month sales prices of second-hand residential properties in second and third-tier cities decreased by 0.5% and 0.6%, with declines narrowing by 0.2 and 0.1 percentage points, respectively. In terms of year-on-year data, the declines in first, second, and third-tier cities all expanded: > The year-on-year price of second-hand residential properties in first-tier cities fell by 7.6%, with the decline expanding by 0.6 percentage points. > > Second-tier cities saw a year-on-year decline of 6.2%, while third-tier cities declined by 6.1%, with declines expanding by 0.2 and 0.1 percentage points, respectively. Specifically, in first-tier cities: > Beijing's second-hand residential prices in January decreased by 0.2% month-on-month (previous value -1.3%), and fell by 8.7% year-on-year (previous value -8.5%). > > Shanghai's second-hand residential prices in January decreased by 0.4% month-on-month (previous value -0.6%), and fell by 6.8% year-on-year (previous value -6.1%). > > Guangzhou's second-hand residential prices in January decreased by 0.7% month-on-month (previous value -1.0%), and fell by 8.3% year-on-year (previous value -7.8%). > > Shenzhen's second-hand residential prices in January decreased by 0.6% month-on-month (previous value -0.6%), and fell by 6.5% year-on-year (previous value -5.4%). ## New Commodity Residential Properties: Month-on-Month Decline Narrowed, Year-on-Year Decline Expanded In terms of month-on-month data, the figures show that the decline in first-tier cities remained the same as the previous month, while the month-on-month decline in second-tier cities narrowed, and third-tier cities remained unchanged. Specifically: > The month-on-month price of new commodity residential properties in first-tier cities decreased by 0.3%, with the decline remaining the same as the previous month. > > The decline in second-tier cities narrowed by 0.1 percentage points to 0.3%, while the month-on-month decline in third-tier cities was 0.4%, the same as the previous month. In terms of year-on-year data, new housing prices in all tiers of cities continued to decline, with the decline expanding: > First-tier cities saw a year-on-year decline of 2.1%, with the decline expanding by 0.4 percentage points. > > Second-tier cities experienced a year-on-year decline of 2.9%, while third-tier cities declined by 3.9%, with declines expanding by 0.4 and 0.2 percentage points, respectively Specifically looking at first-tier cities: > In January, the price of newly built commercial residential properties in Beijing decreased by 0.3% month-on-month (previous value -0.4%), and decreased by 2.4% year-on-year (previous value -2.4%). > > In January, the price of newly built commercial residential properties in Shanghai remained unchanged month-on-month (previous value +0.2%), and increased by 4.2% year-on-year (previous value +4.8%). > > In January, the price of newly built commercial residential properties in Guangzhou decreased by 0.6% month-on-month (previous value -0.6%), and decreased by 5.3% year-on-year (previous value -4.8%). > > In January, the price of newly built commercial residential properties in Shenzhen decreased by 0.4% month-on-month (previous value -0.5%), and decreased by 4.9% year-on-year (previous value -4.4%). ### Related Stocks - [CSI 300 (000300.CN)](https://longbridge.com/en/quote/000300.CN.md) - [Shenzhen Index (399001.CN)](https://longbridge.com/en/quote/399001.CN.md) - [SSE Index (000001.CN)](https://longbridge.com/en/quote/000001.CN.md) - [ISHARESCSI300 (02846.HK)](https://longbridge.com/en/quote/02846.HK.md) ## Related News & Research - [China NPC spokesperson: will continue to expand domestic demand this year](https://longbridge.com/en/news/277722285.md) - [China NPC spokesperson: To promote high-quality employment this year](https://longbridge.com/en/news/277723025.md) - [China's govt spending this year will continue to be fairly large in scale - copy of official report](https://longbridge.com/en/news/277851656.md) - [CHINA IN NEXT FIVE YEARS WILL: TAKE STEPS TO ADDRESS LOCAL GOVT,…](https://longbridge.com/en/news/277853395.md) - [China five-year plan: China will 'seize the commanding heights of science and tech development'](https://longbridge.com/en/news/277878204.md)