In the first half of the year, the proportion of second-hand housing transactions nationwide exceeded that of new homes, marking the entry of the real estate market into the era of stock.

In the first half of this year, the proportion of second-hand housing transactions in the country surpassed that of new housing, reaching 50.4%. The traditional pattern of incremental transactions dominated by new home sales is rapidly shifting towards a dual focus on both new and second-hand homes, marking the entry of the real estate market into the era of stock properties. Under the guidance of the central economic work conference's requirements of "controlling incremental growth, reducing stock, and optimizing supply," multiple cities are exploring various ways to activate existing housing inventory, promoting the optimal allocation of existing housing resources and enhancing the value of stock housing. In Chengyang District of Qingdao, Shandong Province, He Cen is currently coordinating the renovation of his new home. In February of this year, He Cen's family purchased a unit in a (affordable housing) project, selecting a 110-square-meter, three-bedroom, two-living-room property. This affordable housing project is derived from existing housing stock held by a local development enterprise. Last year, a state-owned platform enterprise in Qingdao acquired the project from the original developer, transforming it into a type of affordable housing for allocation, which was then made available to families who meet the qualifications for applying for affordable housing. Through the "order based on demand" model, two batches totaling 173 converted stock properties have been allocated and were sold out on the day of listing.