多地继续发力提振楼市，6月迎来房企年中冲刺

Core Viewpoint - The real estate market in key cities is entering a stable phase after the peak season of "March and April" with varying performance across different cities [1][5] Group 1: Market Performance - In May, Shenzhen's total residential transactions decreased by 16.7% month-on-month to 7,849 units, but still showed a 20% year-on-year increase [1] - Guangzhou's new residential transactions rose to 6,573 units, a 41% month-on-month increase and a 29.34% year-on-year increase [1] - Beijing's second-hand housing transactions fell by approximately 8.3% month-on-month to 14,277 units, but showed a year-on-year increase [1] - Shanghai's total housing transactions reached 223 million square meters in May, a 17% year-on-year increase [1][4] Group 2: Market Trends - The second-hand housing market is experiencing a seasonal decline, with growth rates slowing down despite year-on-year increases [2] - In Shanghai, nine projects sold out quickly in May, indicating strong demand, with one project achieving sales of 1.45 billion in just 36 minutes [3][4] - The overall performance of second-tier cities is mixed, with some cities like Wuxi and Qingdao performing above average, while others like Zhengzhou saw significant declines [5] Group 3: Pricing Dynamics - The average price of new residential properties in 100 cities rose by 0.30% month-on-month to 16,815 yuan per square meter, while second-hand residential prices fell by 0.71% to 13,794 yuan per square meter [6] - The price trends reflect a divergence between new homes, which are primarily improvement-oriented, and second-hand homes, which cater to first-time buyers [6] Group 4: Policy Support - In May, the People's Bank of China lowered the LPR for five-year loans by 10 basis points to 3.50%, potentially reducing first-time home loan rates below 3% [7] - Various cities have introduced measures to stimulate the real estate market, including tax incentives and support for families with multiple children [9][10] - The upcoming mid-year sales push is expected to be supported by these policies, with real estate companies preparing promotional offers [10]