On October 4, China Real Estate Research Institute released the "Summary and Trend Outlook of China's Real Estate Market in the Third Quarter of 2024", reviewing the operation of the real estate sector this year. The sales of new houses in the first three quarters decreased significantly year-on-year, while the second-hand housing market remained basically stable due to the "price-for-volume" exchange. The market activity increased in June due to the 5·17 policy in the middle of the year, but the policy effect weakened in the third quarter, still facing significant adjustment pressure. After the recent clear signal from the central government, relevant policies may be quickly implemented, supported by fiscal and monetary policies. It is expected that the real estate market will see some improvement, with the market sales expected to improve marginally in the fourth quarter. However, the market turning point still depends on factors such as the intensity of policies, implementation pace, and residents' expectations for employment and income. It is expected that in the short term, the overall market will still be at the bottoming-out stage.