Core Viewpoint - The real estate market in major Chinese cities is experiencing a moderate recovery driven by policy support, with new home sales showing significant year-on-year growth, while the second-hand home market is facing seasonal fluctuations and varying performance across cities [1][3][4]. Group 1: New Home Market Performance - In Beijing, from May 1 to May 28, new home transactions reached 3,340 units, representing a month-on-month increase of 3.5% and a year-on-year increase of 32.9% [1]. - The cumulative new home sales in seven key cities (Beijing, Shanghai, Shenzhen, Hangzhou, Chengdu, Nanjing, and Qingdao) totaled 29,000 units in the same period, indicating a better performance compared to the previous year [3]. - Shanghai's new home sales were 10,891 units, with a month-on-month increase of 12.5% and a year-on-year increase of 3.6% [3]. Group 2: Second-Hand Home Market Trends - In Beijing, the second-hand home market saw a total of 12,257 transactions from May 1 to May 28, which is a month-on-month decrease of 12.9% but a year-on-year increase of 10.5% [2]. - Other cities like Shanghai and Shenzhen also experienced month-on-month declines in second-hand home sales, with Shanghai down 11.7% and Shenzhen down 21.1%, while both cities showed year-on-year increases [3]. Group 3: Policy Support for Housing Consumption - Recent policies across various provinces, including Fujian, Henan, and Shanghai, aim to boost housing consumption by reducing restrictive measures and enhancing purchasing incentives [6][7]. - The adjustment of public housing fund loan rates and the reduction of mortgage rates are expected to lower the cost of home purchases for residents [6]. - The central government's emphasis on stabilizing housing consumption is seen as a crucial part of broader economic stimulus efforts, with expectations for more detailed policies to emerge [7].