刚刚出炉的数据，解开了楼市不愿示人的“伤疤”

Core Insights - The real estate market is experiencing a significant downturn, with no price increases in any of the 100 major cities in April, including top-tier cities like Beijing, Shanghai, Guangzhou, and Shenzhen [1][3] - The average price of second-hand homes nationwide fell to 13,892 yuan per square meter in April, a month-on-month decrease of 0.69% and a year-on-year drop of 7.23%, equating to a loss of 210,000 yuan on a 3 million yuan property [3] - The market is facing an oversupply issue, with a surge in listings and a drastic drop in transaction volumes, indicating a return to a buyer's market [3][4] Market Dynamics - In April, cities like Wuxi saw a 644% increase in second-hand home listings following the cancellation of purchase restrictions, leading to a significant price drop [3] - Major cities experienced a sharp decline in transaction volumes, with Shanghai's sales dropping from 29,000 to 22,000 units and Hangzhou's from 12,000 to 9,000 units [3] - The current market conditions reflect a mismatch between supply and demand, with listings up 30%-50% compared to last year, resulting in extreme buyer competition [3] Policy Responses - Local governments have begun to respond to the market downturn, with 12 cities, including Wuxi and Zhengzhou, urgently lifting purchase restrictions and banks in Foshan reducing first-home loan rates to a historic low of 2.86% [4] - Experts suggest that current measures are insufficient to stem the tide of selling pressure, indicating a need for more aggressive policy actions, such as lowering the five-year Loan Prime Rate (LPR) [5] - The central government is shifting focus towards supply-side reforms, with discussions around stabilizing prices and potential state intervention in the housing market [5] Future Outlook - The market is expected to stabilize in cities with strong industrial foundations and population inflows, such as Hangzhou, Chengdu, and Xi'an, but a nationwide recovery may take until mid-2025 [5] - Key indicators for recovery include more than half of the 70 monitored cities halting price declines and revitalization of the land market [5] - The evolving nature of real estate is prompting a shift in perspective, emphasizing the importance of assessing personal housing needs rather than solely focusing on market timing [6][7]