新房二手房周报：新房销售规模同比跌幅收窄，8月居民中长期贷款新增1200亿元

Investment Rating - The report maintains a "Hold" investment suggestion for the real estate sector [1]. Core Insights - The report indicates that the year-on-year decline in new housing sales has narrowed, with August's new housing sales area at 0.65 billion square meters, down 12.6% year-on-year, compared to a 15.4% decline in July [2][3]. - The total sales area of new and second-hand homes in 12 tracked cities was 192.6 million square meters, reflecting a 6.8% decrease month-on-month and a 19.8% decrease year-on-year [2]. - The report highlights that the overall transaction area for new and second-hand homes from January to August 2024 has decreased by 18.8% year-on-year [2]. Summary by Sections Market Overview - In August, the total sales area of new residential properties was 0.65 billion square meters, with a sales value of 0.64 trillion yuan, marking a year-on-year decline of 17.2% [2]. - The cumulative sales area from January to August 2024 was 6.06 billion square meters, down 18.0% year-on-year, with a sales value of 5.97 trillion yuan, down 23.6% [2]. Loan and Financing Data - In August, new long-term loans for residents amounted to 120 billion yuan, accounting for 13.3% of the total new RMB loans [2][3]. - The total social financing scale at the end of August was 398.56 trillion yuan, with a year-on-year growth of 8.1% [2]. Policy Changes - Various cities have implemented targeted policies to stimulate the housing market, such as increasing loan limits and providing purchase subsidies [3]. Company Announcements - Poly Developments reported a sales area of 1.2543 million square meters in August, down 21.8% year-on-year, with a sales amount of 22.115 billion yuan, down 29.4% [3]. - China Merchants Shekou achieved a sales area of 574,000 square meters in August, down 25.7% year-on-year, with a sales amount of 14.004 billion yuan, down 28.2% [3]. Investment Recommendations - The report suggests a long-term recovery in the real estate sector, recommending companies such as Poly Developments, China Merchants Shekou, and others for investment [3][26].