全国商品房待售面积连续8个月减少

Core Viewpoint - The real estate market in China shows signs of improvement, with a significant narrowing of the year-on-year decline in new housing sales and a continuous reduction in unsold inventory over the past eight months, indicating the effectiveness of government policies [1][2][4]. Sales Performance - From January to October, the sales area of new commercial housing reached 71,982 million square meters, a year-on-year decrease of 6.8%, while the sales amount was 69,017 billion yuan, down 9.6% [2][4]. - The year-on-year decline in sales area and sales amount has narrowed by 9 percentage points and 11.3 percentage points, respectively, compared to the same period last year [2]. Inventory Status - As of the end of October, the unsold housing inventory stood at 75,606 million square meters, a decrease of 322 million square meters from the end of September, with residential inventory down by 292 million square meters [2]. - The continuous reduction in unsold inventory reflects positive progress in inventory clearance efforts across various regions [2]. Funding for Real Estate Companies - The total funds received by real estate developers from January to October amounted to 78,853 billion yuan, representing a year-on-year decline of 9.7% [3][4]. - The decline in funding has narrowed by 9.5 percentage points compared to the same period last year, driven by factors such as the expansion of "white list" projects [3]. Investment Trends - Real estate development investment from January to October was 73,563 billion yuan, down 14.7% year-on-year, with new construction area decreasing by 19.8% [4]. - The market is currently undergoing a transition, and fluctuations in certain indicators are expected as the industry adapts to new models [4]. Future Outlook - Short-term policies are anticipated to focus on stabilizing the market, while medium to long-term strategies will align with high-quality development goals outlined in the 14th Five-Year Plan [5]. - As the year-end approaches, there may be an improvement in supply in key cities, potentially providing support to the market [5].