报告：2025一季度以来，房地产市场成交逐步止跌回稳

Core Viewpoint - The real estate market in China has shown signs of stabilization and recovery since the first quarter of 2025, driven by supportive policies and improved market confidence [1] Group 1: Market Trends - The report indicates that various indicators of the real estate market began to improve and stabilize in the fourth quarter of 2024 due to a series of policy supports [1] - Since the first quarter of 2025, market transactions have gradually stopped declining and started to stabilize [1] Group 2: Land Acquisition - In 2024, real estate companies exhibited a high degree of similarity in land acquisition choices, primarily focusing on core plots in first and second-tier cities [1] - Leading real estate firms are leveraging their financial advantages to strategically increase their reserves of high-quality land resources in major cities [1] - Competition for key plots is intense, while many small and medium-sized firms are constrained by liquidity pressures, leading to a contraction in their investment scope [1] Group 3: Strategic Opportunities - Companies are encouraged to actively seize structural opportunities by exploring the diverse structural demands of different cities and homebuyer groups [1] - Enhancing the ability to realize value from inventory is crucial for driving sales growth and improving cash flow [1]