Multiple policies stimulate the vitality of the real estate market, and second-hand homes become the new "top stream".

Reporters learned from the Ministry of Housing and Urban-Rural Development that in the first ten months of this year, the structure of transactions for new and second-hand houses is also changing. Especially as the housing market enters a period of existing stock, the substitutive effect of second-hand houses on new houses is continuously strengthening. The latest data from the Ministry of Housing and Urban-Rural Development shows that from January to October, the signed area of second-hand houses nationwide increased by 4.7% compared to the same period last year, accounting for 45% of the total transaction volume. The signed area of second-hand house transactions in more than a dozen cities such as Shanghai, Shenzhen, Chongqing, Nanjing, Changzhou, and Dongguan increased by over 10% compared to the same period last year.