房地产行业数据点评：新房成交小幅回落，二手房成交持续增长

Investment Rating - The industry investment rating is maintained as "Buy" [2][7][31] Core Insights - New home sales have slightly declined, while second-hand home transactions continue to grow, indicating a stronger market for second-hand properties compared to new homes [4][10][31] - The government is expected to implement policies to stabilize the real estate market, which may include easing restrictive measures and accelerating the acquisition of existing properties and idle land [7][31] Summary by Sections New and Second-Hand Housing Sales Data - In the week of March 3-9, new home sales in 30 major cities amounted to 1.47 million square meters, reflecting a month-on-month decrease of 33% and a year-on-year decrease of 7.6% [4][10] - Second-hand home sales in 13 cities reached 1.92 million square meters, showing a month-on-month increase of 2% and a year-on-year increase of 66% [4][10] Key City Transactions - Shanghai: Second-hand home daily average transactions reached 858 units, a year-on-year increase of 57% [5][15] - Guangzhou: Second-hand home transactions rose to 2,540 units, a year-on-year increase of 16% [6][20] - Shenzhen: Second-hand home daily average transactions were 199 units, a year-on-year increase of 54% [6][23] - Beijing: Second-hand home daily average transactions were 550 units, a year-on-year increase of 41% [6][28] Investment Recommendations - The report suggests focusing on leading real estate companies with low financial risks, strong land acquisition capabilities, and reasonable land reserves, as well as top second-hand housing intermediaries benefiting from active transactions [7][31]