房地产行业周报：政策暖风劲吹，市场情绪显著提振

Investment Rating - The report maintains an "Outperform" rating for the real estate sector [4]. Core Insights - The report highlights a significant boost in market sentiment due to favorable policies from both central and local governments aimed at stabilizing the real estate market [2][3]. - Key cities are expected to see further easing of restrictive policies, with anticipated rapid implementation of interest rate cuts on existing loans, which may alleviate pressure on the second-hand housing market and gradually stabilize the overall housing market [2][4]. Summary by Sections Sales Review (9.22-9.28) - A total of 19,852 units were sold across 34 monitored cities, representing a week-on-week increase of 69.6%. Cumulatively, 634,000 units have been sold in 2024, down 32.8% year-on-year [8][12]. - In first-tier cities, 4,782 units were sold, up 66.9% week-on-week, while second-tier cities saw sales of 12,118 units, up 55.9% [8][9]. - Third-tier cities experienced a remarkable increase of 176.9%, with 2,952 units sold [8][9]. Land Supply (9.16-9.22) - The planned construction area for residential land supply across 100 cities was 4.4 million square meters, with a cumulative supply of 21.028 million square meters in 2024, down 34.9% year-on-year [17][18]. - The average floor price for land supply across 100 cities was 8,822 yuan per square meter, reflecting a 6.5% increase week-on-week but a 10% decrease year-on-year [19][20]. Land Transactions (9.16-9.22) - The total planned construction area for residential land transactions was 4.32 million square meters, with a cumulative total of 14.851 million square meters in 2024, down 27.3% year-on-year [25][26]. - The average transaction floor price for residential land was 4,799 yuan per square meter, down 32.5% week-on-week and 25.6% year-on-year [27][28].