On May 14, domestic housing stocks generally declined today. As of press release,$SEAZEN (01030.HK)$decreased by 3.9% to HK$1.48;$R&F PROPERTIES (02777.HK)$decreased by 3.64% to HK$1.06;$SUNAC (01918.HK)$It fell 3.62% to HK$1.33.

According to CITIC Construction Investment, the full-caliber sales volume of the top 100 housing enterprises in April was 34.1 billion yuan, down 13.3% from the previous month and 47.0% from the previous month. The decline was slightly narrower by 0.2 percentage points compared to the previous month. Among mainstream housing enterprises, only Sunac achieved a positive year-on-year increase in sales. A total of 8 companies showed positive month-on-month growth, a decrease of 21 from the previous month. The bank pointed out that the intensive relaxation of purchase restrictions is expected to provide strong support for demand, and core cities and the second-hand housing market are expected to take the lead in recovering.

Open Source Securities said that judging from the overall performance of the real estate sector, the performance of most leading housing enterprises is under pressure from carry-over gross margin and inventory depreciation, but at the same time, in the process of clearing the industry, high-quality housing enterprises are steadily selling and acquiring land, optimizing debt structures and reducing financing costs, and they are optimistic about future market share increases. Real estate sales and investment data have continued to be under pressure since 2023. The market is still in the process of adjustment, and the current confidence of buyers has not recovered.