楼市库存连降八个月，释放止跌回稳关键信号

Core Insights - The national real estate market is showing signs of stabilization as the inventory of unsold residential properties has decreased for eight consecutive months, indicating a potential recovery from the ongoing adjustment phase [1][3] - The reduction in unsold housing inventory is attributed to effective policies aimed at controlling new supply and optimizing existing stock, which has improved market confidence and supply-demand dynamics [1][3] Group 1: Inventory and Sales Data - As of the end of October, the total unsold residential property area in China was 75,606 million square meters, a decrease of 3.22 million square meters from the end of September, with residential inventory down by 2.92 million square meters [1] - From January to October, the year-on-year decline in new residential property sales area and sales revenue has narrowed significantly by 9 percentage points and 11.3 percentage points, respectively, compared to the same period last year [3] Group 2: Financial Health of Real Estate Companies - The financial situation of real estate companies has improved, with the decline in funds available to developers narrowing by 9.5 percentage points compared to the same period last year and by 7.3 percentage points compared to the entire previous year [3] - The expansion of the "white list" projects has positively influenced the financing environment for real estate companies, contributing to the reduction in sales decline and improved inventory management [3] Group 3: Market Outlook - Despite positive signals, some indicators remain at low levels, reflecting the complexity of the real estate market's transition, which is currently in a period of adjustment between old and new models [3] - The focus of short-term policies will be on stabilizing the market, while long-term strategies will aim to establish a new development model, with expectations for improved supply in key cities to support market stabilization [3]