房地产行业周报：第45周新房成交同比增速回升，供销比回落

Investment Rating - The investment rating for the real estate industry is "Outperform the Market" and is maintained [2] Core Viewpoints - The report highlights a significant decrease in new housing transaction volumes in major cities, with a week-on-week decline of 30.8% and a year-on-year increase of 27% in the 45th week of 2024 [3][4] - The report indicates that the cash flow and debt situation of real estate companies have worsened, with a focus on the impact of policy measures on sales performance [2][5] Summary by Sections New Housing Transactions - In the 45th week of 2024, the total new housing transaction area in 30 major cities was 2.38 million square meters, down 30.8% from the previous week but up 27% year-on-year [3] - The breakdown shows first-tier cities with 680,000 square meters sold, down 43.5% week-on-week but up 46% year-on-year [3] - Second-tier cities recorded 1.24 million square meters, down 25.1% week-on-week but up 18% year-on-year [3] - Third-tier cities had 460,000 square meters sold, down 20.8% week-on-week but up 30% year-on-year [3] Second-Hand Housing Transactions - The second-hand housing transaction volume in 18 cities for the 45th week was 2.21 million square meters, down 1.1% week-on-week but up 29.9% year-on-year [4] - First-tier cities saw 525,000 square meters sold, down 20.9% week-on-week but up 64.6% year-on-year [4] - Second-tier cities had 1.60 million square meters, up 8.0% week-on-week and up 21.7% year-on-year [4] - Third-tier cities recorded 77,000 square meters, down 5.7% week-on-week but up 25% year-on-year [4] Land Supply and Transactions - The land supply area for the week was 35.54 million square meters, with a transaction area of 22.96 million square meters, resulting in a supply-to-sales ratio of 1.55 [5] - Cumulatively, the land supply area for the year in 100 major cities was 78,576 million square meters, down 13% year-on-year [5] - The total land transaction amount was 750 billion yuan, with a year-on-year decrease of 28.8% [5] Real Estate Sector Performance - The real estate index was at 2,568.95 points, up 5.81% week-on-week, while the CSI 300 index was at 4,104.05 points, up 5.50% week-on-week [6] - Year-to-date performance shows the real estate index up 18.34% and the CSI 300 index up 19.61% [6] - Notable stock performances included Jin Ke Co. with a 14.29% increase and Huazhong City A with a 10.38% increase [6]