Based on the optimal monetary policy model, this paper firstly analyzes the optimal policy for the real estate in China from the mechanism and finds the normal rise of the real estate price is essentially driven by the cost and the rigid demand on the real estate due to the population migration; in addition, it finds that other policies may affect the fluctuation of the real estate price in a short term, but it may result in the irreversible malformed real estate price due to the long term and excessive implementation. Furthermore, based on the wavelet multi resolution analysis and intervention analysis mode, this paper discusses the real estate market with the impact from the policy and comes to the following conclusions: the fluctuation of the real estate price will affect the sale of the real estate in a short term instead of a long term, the rise of real estate price and the increase in sale volume have their own intrinsic driving force; the policy adjustment is of inverse effect on the regulation against the real estate price, that is to say, it may control the rise of the real estate price in a short term, however, from a long term perspective, it may form a greater bounce of rise instead of inhibition of the rise of the real estate price.