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Top 100 Real Estate Companies' Q1 Sales Down 23% Year-over-Year: How Substantial Is the "Mini Spring" in the Housing Market?(Includes Video)
【Caixin Global】 Since the beginning of 2026, secondhand home transactions in some core cities have become more active, but that momentum has not yet carried over to the new home market. According to data released recently by the China Index Academy in a market research report, in the first quarter, the TOP100 real estate developers achieved total sales of 620.9 billion yuan, a year-on-year decline of about 23%, which is only about 20% of the same period in 2021.
Based on historical data from the China Index Academy, in the same period from 2021 to 2025, the total sales of the TOP100 real estate developers were 3,078.0 billion yuan, 1,626.0 billion yuan, 1,759.0 billion yuan, 897.8 billion yuan, and 810.1 billion yuan, respectively. Over those five years, only in the first quarter of 2023 did the figure show a modest year-on-year rebound. At that time, COVID-19 prevention and control measures had just shifted, and pent-up demand was released in a concentrated way at the start of 2023.