According to data from DataGO, China's real estate development investment in the first two months of 2026 totaled 961.2 billion yuan, reflecting a year-on-year decline of 11.1%. This marks the fourth consecutive year of decreases for the same period. The absolute value represents the lowest level since 2016. Within this total, residential investment amounted to 728.2 billion yuan, down 10.7% year-on-year, reaching its lowest absolute value for the period since 2017.

New residential construction starts in the first two months of 2026 covered 36.95 million square meters, a decrease of 23.3% compared to the same period last year. This is the lowest level for the period since 2002. Completed residential area totaled 46.25 million square meters, falling 26.9% year-on-year, the lowest since 2009.

Residential sales area reached 77.36 million square meters, down 15.9% year-on-year, the lowest for the period since 2020. Residential sales value was 716.3 billion yuan, a decline of 21.8%, marking the lowest absolute value since 2015.

By the end of February 2026, the floor area of unsold commercial housing stood at 7.9998 billion square meters, up 0.1% year-on-year, the highest level for the first two months of any year on record. Unsold residential area reached 4.3752 billion square meters, increasing 1.3% year-on-year, the highest for the period since 2016.

Funds secured for real estate development in the first two months of 2026 amounted to 1.30 trillion yuan, down 16.24% year-on-year, the lowest since 2011. Among these funds, individual mortgage loans contributed 112.8 billion yuan, plunging 42.01% year-on-year, the lowest since 2009.

Based on the sales value and area data, the average residential selling price for the first two months of 2026 was 9,260 yuan per square meter, down 6.92% year-on-year.