According to Yicai, on September 14, the National Bureau of Statistics released the August housing price data, the trend of which is still declining. "In August, the month-on-month increase in the price index of new commodity residential buildings in 70 cities nationwide was -0.7%, worse than the -0.6% month-on-month increase in July, indicating a deterioration in this index." Yan Yuejin, research director of E-House Research Institute, said that this indicates that the intensity of price reductions and promotions in various regions has increased, and the demand for enterprises to accelerate destocking and fund recovery is more urgent. "The previous market recovery process encountered resistance, indirectly indicating that during the off-season, real estate companies have increased their efforts in price reductions and promotions, which is also related to the relaxation of price controls in various regions." Yan Yuejin stated that recent urban data also indicate that strong first-tier and second-tier cities will be the pioneers of the real estate market recovery, where cities with fast population influx and multiple industrial development opportunities will perform better in the market.