房地产市场周报：重磅支持举措相继落地，核心城市有望引领市场

Group 1 - The report highlights a decline in commodity housing sales due to high base effects and the National Day holiday, with a 66.56% decrease in sales area week-on-week and an 18.27% decrease year-on-year across 30 major cities [2][12] - First-tier cities showed significant improvement, with a year-on-year sales area increase of 35.16%, indicating resilience in these core markets [2][12] - The central government and local authorities have introduced various supportive measures for the real estate market, aiming to stabilize and promote recovery, particularly in first-tier cities [2][3][12] Group 2 - The report notes that the top 100 real estate companies achieved a slight sales increase of 0.2% in September, with total sales amounting to 251.72 billion yuan, although this represents a 37.7% year-on-year decline [2][13] - The cumulative sales area for commodity housing from January 1 to October 6 decreased by 33.93% year-on-year, indicating ongoing challenges in the market [15] - The report suggests that the ongoing supportive policies may lead to marginal improvements in housing sales, particularly for large state-owned enterprises like Vanke and Poly [3][12] Group 3 - The report indicates that the housing market is entering a period of adjustment, with a potential overshoot in the current cycle, as evidenced by a cumulative year-on-year decline in commodity housing sales area of 18.0% and sales revenue of 23.6% as of August 2024 [11][19] - The report emphasizes that while the long-term demand for housing may shrink due to demographic changes, the demand in core cities is expected to remain robust, driven by urbanization [11] - The report also highlights that the land market is showing signs of increased supply but decreased demand, with a significant drop in land transaction volumes [30][35]