房地产行业定期报告：单月销售同比由负转正，环比保持正增

Investment Rating - The report maintains a "Strong Buy" rating for the real estate sector, indicating a positive outlook for the industry in the near term [4]. Core Insights - The report highlights a significant recovery in real estate sales, with October witnessing a year-on-year increase in new housing transactions for the first time in 15 months, signaling improved market confidence [1][2]. - The report emphasizes the importance of ongoing policy support and the need to monitor price indicators for further signs of market stabilization [1]. Sales Review (10.27-11.2) - A total of 28,808 residential units were sold across 34 monitored cities, representing a week-on-week increase of 21.9%. Cumulatively, 744,000 units have been sold in 2024, reflecting a year-on-year decline of 28.7% [9]. - Sales in first-tier cities reached 10,388 units, up 38.3% week-on-week, while second-tier cities saw sales of 15,764 units, increasing by 16.6% [9][10]. Land Supply (10.21-10.27) - The planned land supply for residential purposes across 100 cities was 1,622 million square meters, with a cumulative supply of 27,675 million square meters in 2024, marking a year-on-year decline of 31.3% [21]. - The average land price for residential land across 100 cities was 5,439 yuan per square meter, with a week-on-week increase of 9.6% and a year-on-year increase of 44.1% [21][23]. Land Transactions (10.21-10.27) - The total planned area for residential land transactions across 100 cities was 844 million square meters, with a cumulative total of 18,905 million square meters in 2024, reflecting a year-on-year decline of 27.9% [29]. - The average transaction price for residential land was 7,541 yuan per square meter, showing a week-on-week increase of 64.1% but a year-on-year decrease of 0.6% [29][31].