According to the CITIC Construction Investment Research Report, due to the high base brought about by Xiaoyangchun in March 2023, sales growth performance in the first quarter was under pressure. The national commercial housing sales area fell 19.4% year on year. Among them, the decline in March was 18.3%, which is 2.2 percentage points narrower than in January-February. Recently, cities such as Hangzhou, Beijing, Zhengzhou, and Nanjing have continued to introduce easing policies, and it is expected that the continued strength of the city's policies will provide support for sales to stop falling and stabilize. Investment and capital in the industry declined significantly in March. Further, along with the financing coordination mechanism and the active promotion of the three major projects, the downward pressure is expected to ease.