Based on some features of real estate market, game theory is utilized to analyze the behavior of participants in real estate market. Firstly,the model of 3sided assignment games among government,real estate developer and consumer is established.In general,a 3sided assignment games may have an empty core,so the improved core method is used to solve the problem. Furthermore,compensation system in real estate market is proposed in order to sustain the longterm cooperation.After setting up the model of 2sided assignment games between real estate developer and consumer and comparing it with 3sided assignment games,it concludes that it is rational for the government not to be directly involved in real estate markets.It finally makes some policy suggestions through examples.