The Information Office of the State Council held a series of press conferences on the theme of “Starting with the 15th Five-Year Plan”. Zhang Xuetao, director of the Real Estate Market Supervision Department of the Ministry of Housing and Urban-Rural Development, said at the press conference that currently, there have been “two transformations” in the real estate market. One is that the relationship between supply and demand in the real estate market has changed significantly; the other is that real estate has entered the inventory era. The share of second-hand housing transactions has increased from 27% in 2020 to 46% in 2025. It has already reached 52% in the first 8 months of this year, and more than 50% marks the entry into the inventory era.

The Information Office of the State Council held a series of press conferences on the theme of “Starting with the 15th Five-Year Plan”. Zhang Xuetao, director of the Real Estate Market Supervision Department of the Ministry of Housing and Urban-Rural Development, said at the press conference that currently, there have been “two transformations” in the real estate market. One is that the relationship between supply and demand in the real estate market has changed significantly; the other is that real estate has entered the inventory era. The share of second-hand housing transactions has increased from 27% in 2020 to 46% in 2025. It has already reached 52% in the first 8 months of this year, and more than 50% marks the entry into the inventory era.