样本城市周度高频数据全追踪：6月开工未售去化周期较5月下降-20250720

Core Insights - The report indicates a decrease in the unsold inventory turnover cycle for new construction in June compared to May, suggesting a potential improvement in market conditions [1] - The overall net signed area for new and second-hand homes has shown a year-on-year decline, with the rate of decline for new homes at -22% and for second-hand homes at -9% as of July 17 [4][10] - The report highlights a significant drop in the average number of viewings for second-hand homes, which decreased by 8.3% month-on-month, indicating a shift in market dynamics [5][46] New Home Market - The year-on-year decline in new home signed area has expanded, with the current figures being higher than the levels seen in the past four years [10][12] - The report notes that the average signed area for new homes in sample cities has decreased compared to the same period last year, reflecting ongoing market challenges [12][20] Second-Hand Home Market - Similar to new homes, the second-hand home market has also experienced an expanded year-on-year decline in signed area, with the current figures indicating a more significant contraction [14][16] - The report emphasizes that the average signed area for second-hand homes is also below the levels recorded in previous years, suggesting persistent market weakness [16][20] Land Acquisition - The cumulative land transaction area from January to June has shown a year-on-year decline of 5%, but the average transaction price has increased by 33% compared to the previous year [22][28] - The report indicates that the land acquisition data includes residential, comprehensive, and commercial/office land, providing a comprehensive view of market activity [25][32] Inventory and Turnover - The report notes that the inventory of unsold new construction and the turnover cycle have marginally decreased compared to May, while the inventory of unsold projects has increased [33][35] - The turnover cycle for unsold new construction has decreased, indicating a potential improvement in market absorption rates [35][36] Forward-Looking Indicators - The report suggests that liquidity conditions are expected to improve, with macro-level liquidity showing signs of expansion as of July 2025 [5][49] - The proportion of listings with price increases has decreased by 8.8% month-on-month, indicating a potential cooling in price expectations across the market [51][53]