中信证券：重视供给收缩乘数效应 房价预计强势回稳

Group 1 - The core viewpoint of the report indicates that the land reserve scale for 2025 is not significantly high compared to the planned area [1] - The report suggests incorporating changes in corporate expectations, predicting that land reserves in 2025 will greatly reduce unnecessary construction and new housing launches [1] - According to the report, with the supply-demand alignment, 2025 is expected to see a robust recovery in housing prices, with more cities entering a phase of strong price stabilization [1]