中经评论：房地产市场政策成效持续显现

Core Viewpoint - The real estate market in China is stabilizing due to supportive policies, despite some fluctuations in the market this year [1][2][3] Group 1: Market Performance - The total transaction volume of new and second-hand homes from January to October has decreased by 1.9% year-on-year, but cities like Shenzhen, Wuhan, and Xiamen have shown growth in transactions [1] - The decline in new housing sales has narrowed, with sales area and sales revenue down by 6.8% and 9.6% respectively, showing improvements compared to the previous year [1] - The inventory of unsold commercial housing has continued to decrease, with a reduction of 3.22 million square meters in October, marking eight consecutive months of decline [1] Group 2: Financial Conditions of Real Estate Companies - The funding situation for real estate companies has improved, with the year-on-year decline in funds received narrowing by 9.5 percentage points compared to last year [2] - The second-hand housing market has become more active, with a 4.7% year-on-year increase in transaction area, and second-hand homes now account for 44.8% of total transactions [2] Group 3: Policy Measures and Local Initiatives - Various regions have implemented targeted policies to stimulate the market, such as reducing purchase restrictions in major cities and providing subsidies for home purchases [3] - The "guaranteed delivery of homes" initiative has achieved a 99% delivery rate for 3.96 million units, enhancing buyer confidence [2] - The real estate market is undergoing a transition, with a need for time to adjust, and the focus is on developing a new model for high-quality growth in the sector [3]