商品房库存连续8个月减少

Core Viewpoint - The real estate market in China is experiencing fluctuations, but the effects of policies are becoming evident, with a narrowing decline in new housing sales compared to last year [2] Group 1: Market Performance - From January to October, the sales area and sales amount of new commercial housing decreased by 6.8% and 9.6% year-on-year, respectively, with declines narrowing by 9 percentage points and 11.3 percentage points compared to the same period last year [2][5] - As of the end of October, the unsold housing area nationwide was 75,606 million square meters, a decrease of 3.22 million square meters from the end of September, marking eight consecutive months of reduction [5] - In October, new home prices in first-tier, second-tier, and third-tier cities fell by 0.3%, 0.4%, and 0.5% month-on-month, respectively, with six cities, including Shanghai and Hangzhou, experiencing price increases [3][4] Group 2: Inventory and Supply - The ongoing inventory reduction efforts have led to a continuous decline in unsold housing, with residential unsold area decreasing by 2.92 million square meters this year [5][6] - The supply of new projects has been adjusted downward, with many projects being promoted under the "good housing" standard, leading to an improvement in inventory structure and supply-demand relationships [6] Group 3: Investment Trends - From January to October, real estate development investment totaled 73,563 billion yuan, down 14.7% year-on-year, with the decline rate increasing by 0.8 percentage points compared to previous values [7] - The funding received by real estate companies decreased by 9.7% year-on-year, but the decline rate has narrowed compared to the same period last year and the previous year [7] - The approval amount for loans related to "white list" projects has exceeded 70 billion yuan, indicating a need for further policy implementation to support the sector [7][8] Group 4: Policy Measures - Various regions have accelerated the implementation of supportive policies to stimulate rigid and improved housing demand, aiming to stabilize the real estate market [8] - The next steps involve adhering to the decisions of the central government and promoting high-quality development in the real estate sector through a combination of short-term and long-term strategies [8]