金吾财讯 | 建银国际发研报称，地产销售新房市场仍处于低位，但二手房市场韧性较强：2025年初30大中城市商品房销售较去年小幅好转，1-2月销售面积同比回升约8.7%，但仍然处于历史低位。相比之下，二手房市场相对火热，更为灵活的价格调整空间更适配刚需购房偏好，1月以来18城二手房数据较2024年同期增长约18.4%，其中上海、深圳等一线城市节后成交回升较快，显示居民购房积极性有所回暖。2024年底中央经济工作会议强调要“持续用力推动房地产市场止跌回稳”，而后召开的全国住房城乡建设工作会议延续经济工作会议精神，表示要“推动构建房地产发展新模式，大力实施城市更新，打造‘中国建造’升级版，建设安全、舒适、绿色、智慧的好房子”。该行预计推动地产企稳仍是今年的政策重点，预计收储以及一线城市进一步松绑等支持性政策仍将持续，2025年地产销售下降幅度有望减缓。
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