According to the China Index Research Institute, since the third quarter, the real estate market has generally continued to bottom out, and the characteristics of differentiation are still quite obvious. New housing sales are still low, and first-tier cities are performing relatively well; second-hand housing transactions continue to grow, their share in housing transactions has further increased, and the market has entered an era of stock. In terms of prices, second-hand housing prices continue to adjust, and high-quality projects in core cities provide some support for the average price of new housing. The land market continues to shrink, and land acquisition by housing enterprises is further concentrated in core cities and high-certainty projects. In terms of policy, the reform of the commercial housing sales system was implemented on August 28, local rules began to be introduced at the end of September, and adjustments to the real estate development model were accelerated. Looking ahead to the fourth quarter, the market is expected to continue the established bottoming trend, and the impact of the New Deal will be further evident from 2027.

According to the China Index Research Institute, since the third quarter, the real estate market has generally continued to bottom out, and the characteristics of differentiation are still quite obvious. New housing sales are still low, and first-tier cities are performing relatively well; second-hand housing transactions continue to grow, their share in housing transactions has further increased, and the market has entered an era of stock. In terms of prices, second-hand housing prices continue to adjust, and high-quality projects in core cities provide some support for the average price of new housing. The land market continues to shrink, and land acquisition by housing enterprises is further concentrated in core cities and high-certainty projects. In terms of policy, the reform of the commercial housing sales system was implemented on August 28, local rules began to be introduced at the end of September, and adjustments to the real estate development model were accelerated. Looking ahead to the fourth quarter, the market is expected to continue the established bottoming trend, and the impact of the New Deal will be further evident from 2027.