今日热点：11月上海、沈阳等8城新房价格上涨，商品房库存实现九连降

Core Viewpoint - The real estate market in November continues to show fluctuations, but the effectiveness of policies aimed at stabilizing the market is becoming evident, with some major cities experiencing increased transaction activity [3][4]. Group 1: Market Performance - In November, the overall housing prices in 70 major cities continued to adjust, with new home prices in first-tier cities decreasing by 0.4% month-on-month, while some cities like Shanghai saw a slight increase of 0.1% [6][8]. - The number of cities with rising new home prices increased to 8, up from 6 in October, indicating a positive signal for the market [6][8]. - The total sales area of newly built commercial housing from January to November was 78.702 million square meters, a year-on-year decrease of 7.8%, while the sales amount reached 75.130 billion yuan, down 11.1% [8][12]. Group 2: Inventory and Supply - By the end of November, the inventory of unsold commercial housing decreased to 75.306 million square meters, marking a reduction of 301,000 square meters from the end of October, with inventory declining for nine consecutive months [4][8]. - The supply of new homes in key cities showed a slight recovery, with an expected new supply of 6.69 million square meters in November, a month-on-month increase of 16% [7][11]. Group 3: Policy Impact - Various local governments are intensifying support policies for home purchases, including subsidies and tax reductions, to stimulate market activity as the year-end purchasing window approaches [10][11]. - The Central Economic Work Conference emphasized stabilizing the real estate market as a top priority for next year, focusing on controlling supply, reducing inventory, and improving the quality of housing supply [11][12]. Group 4: Future Outlook - Analysts predict that the market will see a gradual recovery, with a focus on "de-inventory" policies and the potential release of rigid demand in core cities [12]. - In a neutral scenario, it is estimated that the sales area of newly built commercial housing will decline by 6.2% year-on-year in 2026, with a continued trend of market differentiation [12].