Data from the National Bureau of Statistics shows that in November 2024, the number of cities among 70 large and medium-sized cities with rising sales prices of Commodity Residences month-on-month increased. The sales prices of Commodity Residences in first-tier cities increased overall month-on-month, while the decline in second and third-tier cities narrowed month-on-month; the year-on-year decline in prices across all tiers of cities narrowed for the first time this year.

In November, the sales prices of newly built Commodity Residences in first-tier cities changed from a 0.2% decrease last month to remaining flat. Among them, Shanghai and Shenzhen increased by 0.6% and 0.3% respectively, while Peking and Guangzhou decreased by 0.5% and 0.3% respectively. The sales prices of second-hand residences in first-tier cities increased by 0.4% month-on-month, the same increase as last month. Among them, Peking, Shanghai, and Shenzhen rose by 0.9%, 0.4%, and 0.5% respectively, while Guangzhou decreased by 0.4%. In November, the sales prices of newly built Commodity Residences in second-tier cities decreased by 0.1%, a decrease narrowed by 0.4 percentage points compared to last month; second-hand residences decreased by 0.2%, also narrowing by 0.2 percentage points. In third-tier cities, the sales prices of newly built Commodity Residences decreased by 0.3%, with a decrease narrowing by 0.2 percentage points; second-hand residences decreased by 0.5%, with a decrease narrowing by 0.1 percentage points. In November, among the 70 large and medium-sized cities, 17 cities saw an increase in newly built Commodity Residence sales prices month-on-month, an increase of 10 from last month; 10 cities saw an increase in second-hand residence prices month-on-month, an increase of 2 from last month.

In November, the sales prices of new Commodity Residences in first-tier cities decreased by 4.3% year-on-year, with a decline narrowing by 0.3 percentage points compared to the previous month. Among them, Peking, Guangzhou, and Shenzhen decreased by 5.3%, 9.9%, and 7.1%, respectively, while Shanghai increased by 5.0%. The sales prices of second-hand Residences in first-tier cities fell by 8.0% year-on-year, with a decline narrowing by 1.6 percentage points, where Peking, Shanghai, Guangzhou, and Shenzhen decreased by 6.2%, 4.9%, 11.9%, and 9.0%, respectively. In November, the sales prices of new Commodity Residences in second-tier cities decreased by 5.8% year-on-year, with a decline narrowing by 0.2 percentage points; second-hand Residences fell by 8.4%, with a decline narrowing by 0.4 percentage points. In third-tier cities, the sales prices of new Commodity Residences dropped by 6.5% year-on-year, with a decline narrowing by 0.1 percentage points; second-hand Residences decreased by 8.8%, with a decline narrowing by 0.2 percentage points.