房地产市场周报：中央明确政策发力方向，彰显稳地产决心

Investment Rating - The report indicates a positive outlook for the real estate market, suggesting that policies will continue to support both supply and demand, with potential for further easing of regulations [2][17]. Core Insights - The real estate market is showing signs of recovery, with November sales area experiencing a year-on-year increase of 3.25%, marking the end of a 37-month decline [2][17]. - The central government's economic work conference emphasized the need to stabilize the real estate market, focusing on urban village and dilapidated housing renovations, which is expected to release housing demand [2][17]. - Despite the positive signals, the overall sales volume for the year is likely to remain low, and the establishment of a market turning point may take time [2][17]. Summary by Sections Weekly Insights - The report highlights that the real estate market is benefiting from ongoing supportive policies, with a notable increase in sales volume in major cities [2][17]. - The central government is committed to stabilizing the market, with plans to manage land supply and activate existing properties [2][17]. High-Frequency Data on Housing Market - From December 9 to December 15, 2024, the weekly transaction volume in 30 major cities increased by 21.98% compared to the previous week, and by 21.86% year-on-year [20][23]. - As of December 15, 2024, the cumulative transaction area in these cities decreased by 25.24% year-on-year [20][23]. Land Market Data - For the week of December 9 to December 15, 2024, land supply in 100 major cities decreased by 54.03% compared to the previous week, and by 21.28% year-on-year [47][49]. - The average land price for supplied land decreased by 1.37% week-on-week but increased by 64.93% year-on-year [53][55]. Real Estate Development Investment Data - As of November 2024, cumulative real estate development investment reached 93,634 billion, a year-on-year decrease of 10.40% [61]. - The construction area nationwide decreased by 12.70% year-on-year, with new construction area down by 23.00% [63].