中经评论：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 stabilization, with a narrowing decline in sales and prices, driven by policy adjustments and seasonal demand [1][2]. Group 1: Sales and Price Trends - In September, new residential property sales area reached 85.31 million square meters, a month-on-month increase of 48.5% [1]. - New residential property sales value in September was 802.5 billion yuan, a month-on-month increase of 47.3% [1]. - From January to September, the sales area of new residential properties decreased by 5.5% year-on-year, a reduction of 11.6 percentage points compared to the same period last year [1]. - The sales value of residential properties fell by 7.9% year-on-year, narrowing by 14.8 percentage points compared to last year [1]. - In September, the year-on-year decline in new residential property prices in first-tier cities was 0.7%, a reduction of 0.2 percentage points from the previous month [2]. - Second and third-tier cities saw year-on-year price declines of 2.1% and 3.4%, respectively, both narrowing by 0.3 percentage points [2]. Group 2: Inventory and Funding - The inventory of residential properties decreased by 2.41 million square meters at the end of September compared to the end of August, marking seven consecutive months of decline [2]. - From January to September, funding for real estate development enterprises fell by 8.4% year-on-year, but the decline was 11.6 percentage points less than the previous year [2]. Group 3: Future Development Strategies - A new model for real estate development is needed, focusing on a clear and complementary supply structure for basic and diverse housing needs [3]. - Establishing a mechanism for the interaction of "people, housing, land, and finance" is essential for balancing supply and demand in the real estate market [3]. - Reforming real estate development, financing, and sales systems is crucial to prevent risks and ensure project delivery [3]. - The goal is to develop safe, comfortable, green, and smart housing, improving standards and operational levels across the housing sector [4].