房地产：第8周成交回落、春节黄金周回升，整体回稳不变

Investment Rating - The report maintains an "Overweight" rating for the real estate industry [2] Core Insights - The overall transaction volume in the real estate market showed a decline during the week of February 13-19, 2026, but there was a rebound during the Spring Festival Golden Week (February 16-22, 2026) compared to the same period in 2025. The report indicates a steady trend for the year and remains optimistic about the high-quality development of quality enterprises [2][3] Summary by Sections Market Performance - In the week of February 13-19, 2026, the new housing transaction area in 30 major cities was 320,000 square meters, a decrease of 74.2% week-on-week. The sales area in first-tier cities was 60,000 square meters, down 83.5% week-on-week. Second-tier cities saw a sales area of 170,000 square meters, down 68.3%, while third-tier cities recorded 90,000 square meters, down 74.3% [3] - From February 1-19, 2026, the cumulative transaction area in 30 cities was 2.53 million square meters, a decrease of 48.4% compared to January and down 37.0% year-on-year compared to the same period in 2025 [3] Land Transactions - During the week of February 9-15, 2026, the land supply area was 29.43 million square meters, with a transaction area of 12.41 million square meters, resulting in a supply-to-sales ratio of 2.37 times. The total land transfer amount was 13.3 billion yuan. The cumulative land supply area in the top 100 cities for the year was 113.04 million square meters, an increase of 25.5% year-on-year [3] Spring Festival Golden Week Data - For the Spring Festival Golden Week in 2026, the new housing transaction area in 30 cities was 83,100 square meters, an increase of 43.2% year-on-year compared to the same period in 2025. In first-tier cities, the transaction area was 11,400 square meters, up 80.9% year-on-year [3]