促进房地产止跌回稳仍需努力

Core Viewpoint - The real estate market in China is showing signs of recovery, with a narrowing decline in sales and prices, indicating progress towards stabilization and inventory reduction [1][2][3] Group 1: Market Performance - From January to September, the sales area of new commercial housing decreased by 5.5% year-on-year, a reduction of 11.6 percentage points compared to the same period last year [2] - The sales revenue of commercial housing fell by 7.9% year-on-year, with a decline reduction of 14.8 percentage points compared to last year [2] - In September, the sales area of new commercial housing reached 85.31 million square meters, a month-on-month increase of 48.5% [1] - The sales revenue for new commercial housing in September was 802.5 billion yuan, a month-on-month increase of 47.3% [1] Group 2: Price Trends - In September, the year-on-year decline in new residential prices in first-tier cities was 0.7%, a narrowing of 0.2 percentage points from the previous month [2] - Second and third-tier cities saw new residential prices decrease by 2.1% and 3.4% year-on-year, respectively, with both declines narrowing by 0.3 percentage points [2] - The year-on-year decline in second-hand residential prices in first-tier cities was 3.2%, also narrowing by 0.3 percentage points from the previous month [2] Group 3: Inventory and Funding - By the end of September, the inventory of commercial housing decreased by 2.41 million square meters compared to the end of August, marking a continuous reduction for seven months [2] - The funds available to real estate developers decreased by 8.4% year-on-year from January to September, but the decline was 11.6 percentage points less than the same period last year [2] Group 4: Future Development Strategies - The industry aims to enhance the housing supply system to better meet the basic and diverse housing needs of the population [3] - A new model for real estate development is proposed, focusing on a clear and complementary supply structure between guaranteed and market-based housing [3] - The establishment of a "people, housing, land, and money" linkage mechanism is suggested to balance supply and demand in the real estate market [3][4]