商品房库存连续8个月减少

Core Viewpoint - The real estate market is experiencing fluctuations, but the effectiveness of policies is becoming evident, with a narrowing decline in sales and ongoing inventory reduction efforts [1][7]. Group 1: Market Performance - From January to October, the sales area of new commercial housing decreased by 6.8% year-on-year, and sales revenue fell by 9.6%, but the decline has narrowed compared to the same period last year [1][7]. - As of the end of October, the nationwide inventory of unsold commercial housing was 75,606 million square meters, a reduction of 3.22 million square meters from September, marking eight consecutive months of decline [1][6][7]. Group 2: Price Trends - In October, new home prices in first-tier, second-tier, and third-tier cities fell by 0.3%, 0.4%, and 0.5% month-on-month, respectively, with six cities, including Shanghai and Hangzhou, experiencing price increases [2][3]. - The second-hand housing market is also adjusting, with prices in first-tier, second-tier, and third-tier cities decreasing by 0.9%, 0.6%, and 0.7% month-on-month, indicating a process of price correction [5]. Group 3: Investment and Financing - Real estate development investment from January to October was 73,563 billion yuan, down 14.7% year-on-year, with the decline rate widening by 0.8 percentage points compared to previous values [7][9]. - The funding for real estate companies has seen a reduction in decline, with total funds received amounting to 78,853 billion yuan, a year-on-year decrease of 9.7%, but the decline has narrowed compared to previous years [9]. Group 4: Policy and Future Outlook - The government is actively implementing supportive policies to stimulate housing demand and stabilize the real estate market, with a focus on high-quality development [9]. - The next phase will involve adhering to the central government's directives to construct a new model for real estate development, emphasizing a combination of short-term and long-term strategies [9].