宏观高频跟踪：二手房销售相对活跃，新房销售环比回落

Real Estate Market - The second-hand housing market remains relatively active, while new home sales have declined month-on-month[2] - In the past week, the transaction area of commercial housing in 41 cities was 2.0759 million square meters, down 48.94% year-on-year and 37.02% month-on-month[3] - The average price index for new homes in major cities shows fluctuations, with Beijing's index at 21.91, down 14.55% year-on-year but up 2.00% month-on-month[3] - The transaction area for second-hand homes in 19 cities was 2.4170 million square meters, up 36.84% year-on-year and 1.50% month-on-month[3] Infrastructure - The infrastructure physical workload index was 33.37, down 30.21% year-on-year and 9.49% month-on-month[61] - The newly issued special bonds for 2025 reached approximately 39,016 billion yuan, a 1% increase year-on-year[48] - The total investment in newly started projects from January to November 2024 decreased by 35.9% year-on-year[55] Manufacturing Sector - Excavator sales in November reached 17,590 units, up 17.86% year-on-year and 4.76% month-on-month[77] - The average daily retail sales of passenger cars were 86,900 units, showing a month-on-month increase[80] - Home appliance retail sales have declined, with air conditioner sales at 332,000 units, down 3.77% month-on-month[87]