Expert interpretation: Positive signals in the real estate market further strengthened.

Based on the latest statistical data and market performance in various regions, the current real estate market is in a key transitional stage from "repair" to "stability", showing a series of positive changes and a continuous solidification of the foundation for market stabilization. The market performance shows stable volume and rising prices, which boosts confidence with positive signals. First, the decrease in sales volume is narrowing. The latest data from the National Bureau of Statistics shows that in the first quarter of this year, the year-on-year decrease in sales area of newly built commercial housing nationwide narrowed by 3.1 percentage points compared to January and February; the decrease in sales revenue narrowed by 3.5 percentage points. Second, the trend of price increases is expanding. In March, among the 70 large and medium-sized cities, the number of cities where new and second-hand house prices increased month-on-month increased by 4 and 11 respectively compared to the previous month. The prices of second-hand houses in first-tier cities turned from a decrease to an increase, and the prices of new houses in Shanghai continued to increase both month-on-month and year-on-year, indicating that the rise in transaction volume is leading to price increases.