Whether the relationship between expectations and housing prices can be scientifically revealed is the key to the healthy development of the industry, effective regulation and correct decisio-making. On the basis of building the empirical model,the paper makes quantitative and comparative analyses on the relationship between market participants' expectations and housing prices of 30 provinces in China, which focuses on the temporal dimension and spatial dimension. The term of sample is from 2001 to 2015, and the methods include panel data model, panel clustering analysis and so on. The results show that: from the temporal dimension, the relationship between expectations and prices is dynamic; The expectations'role in housing prices has been strengthening as time goes on; The main influential From the spatial dimension, the impacts of expectations on all regions are obviously different and it generally shows a rising trend with the decline in housing price s; There are differences in the effectiveness of macro-control policies in four regions. From the temporal dimension and the spatial dimension, the paper analyzes the evolutionary process and regional differentiation rules of the intrinsic link between expectations and housing prices and provides new explanations for the fluctuations of housing prices, the differences of housing prices between regions and regulation inefficiency.