[Ministry of Housing and Urban-Rural Development: Significant changes have occurred in the supply and demand relationship in the real estate market] On September 18, the State Council Information Office held a series of press conferences with the theme of "Starting the 15th Five-Year Plan". Zhang Xuetao, director of the Real Estate Market Supervision Department of the Ministry of Housing and Urban-Rural Development, said at the press conference that currently, the real estate market has experienced "two changes." One is that the supply and demand relationship in the real estate market has undergone major changes; the other is that real estate has entered the stock era. The proportion of second-hand housing transactions has increased from 27% in 2020 to 46% in 2025. In the first eight months of this year, it has reached 52%. More than 50% marks the entry into the stock era.