China's National Bureau of Statistics said in a Jan–Jul 2026 market report
released Aug 17 that new commercial housing sales area fell 11.8% YoY (0.2 ppt
worse than Jan–Jun) and sales value fell 13.1% YoY, a 0.5 ppt narrowing. The
report said property inventories continued to decline. Policymakers retain a
year-long goal of stabilizing the real estate market; policy focus is expected
to stay on accelerating existing measures—boosting housing consumption,
unblocking first-/second‑hand housing replacement chains, and mobilizing stock
land and completed-for-sale housing—to speed results. Entering the
September–October season, policy effects plus supply of improvement projects and
replacement demand may support marginal transaction recovery in core cities, but
inter-city and project-level divergence is likely to persist in the near term.
