房地产市场持续巩固既有向好态势

Core Viewpoint - The real estate market is stabilizing due to various policies aimed at supporting housing demand and reducing purchase costs, with positive effects observed in recent months [1][5]. Group 1: Market Performance - In April, the transaction and price levels in the real estate market remained stable, with new home and second-hand home prices showing slight fluctuations [1][2]. - From January to April, the sales area of new commercial housing decreased by 2.8% year-on-year, but the decline was less severe compared to the previous months [1]. - In 40 key cities, the sales area and sales amount of new residential properties increased by 0.1% and 2% year-on-year, respectively [1]. Group 2: Price Trends - In April, the housing price index for 70 cities showed a slight decline compared to March, with first-tier cities' new home prices remaining flat and second-hand home prices decreasing [2]. - Year-on-year, new home prices in first, second, and third-tier cities fell by 2.1%, 3.9%, and 5.4%, respectively, but the rate of decline has narrowed compared to previous months [2]. Group 3: Inventory and Construction - Real estate inventory and new construction have shown signs of improvement, with a reduction in the inventory of unsold properties and a slight recovery in new construction starts [4]. - As of the end of April, the area of unsold commercial housing continued to decrease for two consecutive months [4]. Group 4: Future Outlook - The government emphasizes the need for continued efforts to stabilize the real estate market, with a focus on urban renewal and the supply of high-quality housing [5][6]. - There is an expectation for policies related to the renovation of old neighborhoods and the acquisition of existing housing to be implemented more rapidly [6].