统计局：前7月全国新房销售4.9万亿

Core Insights - The real estate market in China continues to show a downward trend in key indicators such as new home sales area, sales volume, and new construction area for the first seven months of the year [1][3] - Despite the decline in market demand, financing conditions for real estate developers have improved slightly [3][6] Market Performance - From January to July, the sales area of new commercial housing reached 51,560 million square meters, a year-on-year decrease of 4.0%, with residential sales area down by 4.1% [1] - The sales volume of new commercial housing was 49,566 billion yuan, down 6.5%, with residential sales volume decreasing by 6.2% [1] - The total funds available to real estate developers amounted to 57,287 billion yuan, a year-on-year decline of 7.5%, primarily due to weak sales [3] Price Trends - In July, housing prices in first-tier cities continued to decline month-on-month, with Beijing remaining flat, Shanghai increasing by 0.3%, and Guangzhou and Shenzhen decreasing by 0.3% and 0.6%, respectively [4] - Among second-tier cities, Sanya has seen a continuous increase in new home prices for four consecutive months [4] - In the second-hand housing market, only Taiyuan experienced a month-on-month price increase in July, while major cities like Beijing, Shanghai, Guangzhou, and Shenzhen saw declines of 1.1%, 0.9%, 1.0%, and 0.9%, respectively [4] Financing and Investment - From January to July, domestic loans for real estate developers reached 920.7 billion yuan, a slight increase of 0.1%, while self-raised funds decreased by 8.5% [3] - Personal mortgage loans totaled 791.8 billion yuan, down 9.3% [3] - The overall financing environment for developers has shown some signs of improvement despite the ongoing market challenges [6] Market Sentiment and Policy Impact - The market demand remains weak, with a notable decline in buyer confidence reflected in longer listing times and reduced search activity [6] - Recent policy changes, such as the relaxation of purchase restrictions in Beijing and further optimization of regulations in Hainan, have led to a slight increase in market activity in August [6] - The real estate market is experiencing a divergence, with core cities showing resilience while non-core areas face significant challenges [6]