资金加仓低位板块！全市场唯一地产ETF（159707）获净申购1150万份！机构建议逢低配置地产股

Group 1 - The real estate sector is experiencing a pullback, with funds increasing positions during dips, as indicated by the narrow fluctuations in the CSI 800 Real Estate Index [1] - The only ETF tracking the CSI 800 Real Estate Index (159707) has shown a narrow fluctuation in the market, with a net subscription of 11.5 million units [1] - Major cities are implementing new real estate policies, with Shenzhen recently announcing measures to optimize housing policies, following similar actions in Beijing and Shanghai [3] Group 2 - The market is entering a traditional peak season for real estate sales, with expectations for increased activity and a potential rebound in transaction volumes in the fourth quarter [3] - The CSI 800 Real Estate Index currently has a price-to-book (PB) ratio of 0.75, indicating a significant undervaluation compared to historical levels [3] - Leading real estate companies are expected to show resilience due to their strong land reserves in core cities, which may lead to a quicker recovery in sales and profitability [5][6] Group 3 - The real estate ETF (159707) focuses on top-tier companies, with over 90% of its weight in the top ten constituents, highlighting a concentration in high-quality firms [6] - The overall performance of real estate companies is still in a bottoming phase, but leading firms are expected to outperform their peers due to their advantageous positions [5][6]