Top100 sales are down 47% from a year earlier.Casinoroyalepokertable.0%Casinoroyalepokertable, down 13.3% from the previous month. According to data from the Carey Research Center, in April 2024, full-caliber sales of Top100 real estate enterprises fell by 47.0% year on year, narrowing 0.2pct compared with the previous month, down 13.3% from the previous month. In the same period last year, the full-caliber sales area of Top100 real estate enterprises fell by 42.2% year on year, narrowing 7.5pct and 12.4% compared with the same period last year. Sales of equity caliber fell 47.2% from the same period last year, the decline expanded 2.4pct, down 14.8% from the previous month. Top3 had the smallest year-on-year decline in the month. From January to April 2024, the cumulative growth rate of full-caliber sales of Top3/Top4-10/Top11-20/Top21-50/Top51-100 in the industry was-37.0%, 46.2%, 53.1% and 55.1%, respectively. In the month of April, the growth rate of full-caliber sales of Top3/Top4-10/Top11-20/Top21-50/Top51-100 in the industry was-27.9%, 46.6%, 46.4%, 58.7%, 49.9%, respectively. The decline of full-caliber cumulative sales of first-and second-tier real estate enterprises is about 15.6pct lower than that of third-and fourth-tier real estate enterprises. From January to April 2024, the sales of real estate enterprises in the first and second lines / balanced layout / third and fourth lines of heavy warehouses were-46.7%, 59.7% and 62.3% respectively compared with the same period last month. The cumulative sales volume of first-and second-tier real estate enterprises was about 15.6pct lower than that of third-and fourth-tier real estate enterprises, and the difference was 7.2pct larger than that of last month. In Top20, Sunac China had the biggest year-on-year sales growth in that month. From January to April of 2024, the cumulative full-caliber sales of Top20 real estate enterprises fell 45.7% from the same period last year, narrowing 1.5pct compared with the previous month. Greentown China had the smallest year-on-year decline, with a year-on-year decline of-24.4%. In April, full-caliber sales of Top20 real estate enterprises fell 41.5%, narrowing 1.4pct compared with the previous month, with the largest year-on-year growth rate in China, with + 57.4%. Industry point of view: affected by the high base in the same period last year, April sales still declined in double digits compared with the same period last year, which is in line with our expectations; from a month-on-month point of view, Xiaoyang spring trend can be weakened after entering April, and full-caliber sales are lower than double digits. Looking forward to May, the high base effect is still there, and sales are expected to decline year-on-year or continue to decline. At the end of April, the Politburo meeting proposed to co-ordinate the study of policies and measures to digest the stock of real estate and optimize incremental housing, looking forward to the further landing of follow-up policies, overlaying the recent relaxation of purchase restrictions in core second-tier cities such as Chengdu, and encouraging commercial housing to trade in old ones in many places. it will help to promote the chain of home ownership transactions, accelerate inventory demolitions, and help repair the fundamentals of the industry. Under the simultaneous force of supply and demand, the trading volume is expected to pick up moderately, it is recommended to standardize the configuration of the industry, recommend second-hand housing trading intermediary leader shell, Shenzhen urban village transformation leader Tianjian Group, regional leader Binjiang Group. Risk hints: the regulation effect of real estate policy is not as good as expected risk; the recovery of commercial housing sales is less than expected risk; the mitigation of developer capital chain is not as good as expected risk. [disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.

[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.