[New home transaction area in first-tier cities grew over 10% YoY]

Published: Sep 24, 2026 11:24 (GMT+8)

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September is a traditional peak season for the real estate market. Currently, signs of peak-season activity have begun to emerge, with both new home and existing home market activity picking up in key cities. In the new home market, data from the China Index Academy shows that as of September 20, new home transaction area in 30 key cities edged up 1.4% YoY in September, while new home transaction area in first-tier cities grew over 10% YoY. Beijing and Shanghai posted YoY growth of 23% and 22%, respectively.

In the existing home market, as of September 20, existing home transactions in 20 key cities rose 13.1% YoY in September. Beijing and Shanghai recorded 10,000 and 16,000 existing home transactions, up 2.2% and 24.3% YoY, respectively. Cao Jingjing, general manager of the Index Research Department at the China Index Academy, said that in the long term, as off-plan sales gradually advance and developers become more cautious in investment and development decisions, new home supply may pull back further. Some homebuying demand may shift to the existing home market, providing a degree of support for existing home transactions.

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