房地产行业第47周周报：本周新房成交同环比均正增长，一线城市相继取消普宅非普宅标准

Investment Rating - The report maintains a positive outlook on the real estate sector, indicating a clear upward trend in the market [1]. Core Insights - New housing transaction area has turned positive on a month-on-month basis, with a 3.6% increase, while year-on-year growth remains at 9.3%, although the growth rate has narrowed [1][15]. - The second-hand housing market shows a decrease in transaction area by 9.1% month-on-month but maintains a year-on-year increase of 4.6% [1][19]. - New housing inventory has decreased both month-on-month and year-on-year, with a total inventory of 9440 million square meters, reflecting a month-on-month decline of 0.2% and a year-on-year decline of 8.7% [1][25]. - The land market has seen an increase in transaction volume but a decrease in price, with total land transaction area rising by 189.8% month-on-month and 18.0% year-on-year, while the average floor price has decreased by 16.2% month-on-month [1][8]. Summary by Sections 1. New Housing Market Tracking - In the week of November 16 to November 22, 2024, new housing transaction volume in 40 cities reached 29,000 units, marking an 8.8% increase month-on-month and a 1.2% increase year-on-year [1][15]. - The transaction area for new housing was 313.9 million square meters, with a month-on-month increase of 3.6% and a year-on-year increase of 9.3% [1][15]. 2. Land Market Tracking - The total land transaction area across 100 cities was 2,662.7 million square meters, with a month-on-month increase of 189.8% and a year-on-year increase of 18.0% [1][8]. - The total land transaction price reached 848.6 billion yuan, reflecting a month-on-month increase of 143.0% and a year-on-year increase of 52.5% [1][8]. 3. Policy Overview - Recent policies have focused on stabilizing the real estate market, including the cancellation of classification standards for residential properties in major cities, which is expected to enhance market confidence [1][19]. 4. Investment Recommendations - The report suggests focusing on three main lines for investment opportunities: 1. Companies expected to benefit from policy easing, such as Jindi Group and Vanke A [1][19]. 2. Companies with strong positioning in core cities, like Greentown China and China Resources Land [1][19]. 3. Local state-owned enterprises benefiting from debt resolution and inventory acquisition, such as Yuexiu Property and Jianfa Group [1][19].