房地产行业2025年7月投资策略：基本面持续低迷博弈窗口开启

国信证券2025-06-30

行业：基本面持续低迷。从统计局数据看，5 月销售规模跌幅扩大，延续4 月下行趋势；70 城新房和二手房价格同比降幅收窄，但价格环比跌幅均扩大；房地产开发投资和房企到位资金降幅持续扩大，销售降温对房企资金的拖累明显；开竣工单月同比降幅边际收窄，但面积相对历史同期仍在低位。从日频跟踪来看，30 城新建商品房成交量同比略有下降。6 月，30 城新建商品房当年累计成交4243 万㎡，同比-1%；其中，北京...

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房地产行业2025年7月投资策略：基本面持续低迷 博弈窗口开启

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房地产行业2025年7月投资策略：基本面持续低迷博弈窗口开启