突发！求是重磅表态楼市，三大核心信号出炉，改善预期迎关键窗口

Core Viewpoint - The article emphasizes the importance of stabilizing and improving expectations in the real estate market, marking a critical window for policy intervention and industry transformation as the market faces significant challenges [1][3]. Group 1: Current Market Conditions - The real estate market is experiencing a critical phase with unstable expectations, highlighted by a 27.4-month inventory cycle for new homes in 100 cities and a 40.3-month cycle in third and fourth-tier cities. Additionally, second-hand home prices in 70 cities have declined for 19 consecutive months, with a 7.2% year-on-year drop in sales area [3]. - The current environment has led to a strong wait-and-see sentiment among buyers, insufficient investment confidence from real estate companies, and liquidity issues in the market [3]. Group 2: Key Signals from the Article - Signal One: The article reaffirms the core value of the real estate industry, emphasizing its significant financial asset attributes and correcting the notion that its importance is declining. It states that real estate is a crucial industry for the national economy and a major source of household wealth, impacting key economic indicators [5][6]. - Signal Two: The policy approach is shifting towards providing comprehensive support, with a call to eliminate restrictive measures and ensure that new and old policies work in tandem. This aims to break the deadlock in market dynamics and stimulate demand [6][8]. - Signal Three: The article outlines a transition from a high-debt, high-leverage model to one focused on quality improvement and efficiency in existing stock. It identifies new urban residents and young people as key demand drivers and highlights the potential for updating existing housing stock [8][9]. Group 3: Opportunities and Implications - For homebuyers, the current window presents opportunities through policy benefits such as relaxed purchase restrictions, lower mortgage costs, and enhanced support from public funds, leading to reduced barriers to homeownership [9]. - For real estate companies, this period is crucial for transformation, moving away from traditional expansion models towards integrated service offerings, including green and smart housing developments [10]. - The market is expected to see a differentiation in recovery, with core cities likely stabilizing first due to their population and economic advantages, while third and fourth-tier cities will focus on inventory reduction [10][11].