2. Supply exceeds demand: If the supply of houses in this area exceeds demand, house prices will decrease accordingly. In this case, in order to sell the house as soon as possible, developers may adopt a price reduction strategy.
3. Property characteristics: Each property has its own characteristics, such as architectural style, property services and so on. If the characteristics of the property are not attractive enough, then the house price will be reduced accordingly.
4. Developer strategy: Developers often make house price strategies according to market demand and competition. If the developer adopts the price reduction strategy in order to gain more market share, the house price will be reduced accordingly.