Urban housing prices are influenced by a variety of dynamic factors that work together in the real estate market. This study examines the key factors affecting price fluctuations in the urban housing market, focusing on analyzing housing price changes in Hangzhou. The effects of real estate enterprise factors, consumer demand, government policies, economic factors and housing characteristics on price volatility are investigated through a multiple linear regression model using a sample of 7,843 transaction data from six districts of Hangzhou’s main urban area. The results show that enterprise factors (β=0.275, p=0.001), consumer factors (β=0.073, p=0.000) and government policies (β=0.055, p=0.000) are the important factors affecting house prices. The adjusted R² of the regression model is 0.695, which indicates that the selected variables have strong explanatory power for house price fluctuations. The model provides a valuable reference for real estate developers and government policy makers to help them better predict market trends and formulate appropriate strategies. The study shows that the strategies of real estate developers and consumer demand have a direct impact on house price fluctuations, while the government’s regulatory policies and economic environment also play an important role in the market.
