The Zhitong Finance App learned that Kerry Research released monitoring of commercial housing market transaction structures and inventory removal in 15 key cities in September 2026. In September 2026, the housing market in key cities showed the characteristics of “concentrated supply, month-on-month recovery in new housing, and a slight decline in second-hand” under the “Golden Nine” window. The supply of new housing increased significantly, driven by centralized evidence collection by housing enterprises, which led to a month-on-month recovery in new housing transactions, but it was still in a declining range; second-hand housing fell slightly by 1.13% month-on-month under a high base, and still maintained a positive increase of 5.34% year on year. The supply of new homes was released and transaction follow-up was insufficient, driving inventory from decline to increase, and the removal cycle being lengthened simultaneously, further increasing the overall removal pressure. Judging comprehensively, the real estate market in September was still in the overlapping phase of “policy consolidation and market refinement”. The degree of implementation of institutional benefits depended on the pace of implementation of supporting rules in the fourth quarter, while the phased reversal of the supply and demand relationship suggested that market repair would not be achieved overnight.

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