房地产行业第七期总第五十五期：楼市成交急速恢复板块调整延续130227.ppt

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1、,10,0,证券研究报告：行业研究,房地产,楼市成交急速恢复,板块调整延续,评级：看好2013 年 02 月 27 日相关研究：,维持,2013 第七期 总第五十五期(130218-130224)行业周报投资要点：上周地产板块下跌 5%，跌幅小于大盘。成交量 79.73 亿股，较春节前,成交 维持 高位,房价 涨势 加 速,最后一周减少 4.08 亿股；成交 606.96 亿元，较春节前最后一周减少 45.87 亿,板块继续震荡（20121225）,元，整个板块继续缩量下跌。,成交 维持 高位,房价 涨势 加 速,行业动态：。,板块继续震荡（20130109）,成交量：上周 50 个城市总成交

2、 5.5 万套，环比增长 395.2%。成交环比,成交 完全 恢复,房价 涨势 趋 缓,上升城市 49 个，仅金华出现环比下降；大核心城市成交量环比增长 546%，,板块继续震荡（20130116）成交 完全 恢复 房价 涨势 趋 缓板块继续震荡（20130123）,二线城市成交环比增长 433.1%，三线城市成交环比增长 218.7%。50 个城市总成交量同比增长 43.4%，成交同比上升城市 41 个。库存：上周无锡、惠州、济宁数据缺失，17 个城市可售商品房（住宅）共 145.67 万套，环比下降 0.68%。去化时间方面，17 个城市总去化时间约为,震荡仍是主基调（20130130）震

3、荡仍是主基调（20130206）,继续看好板块继续看好板块,71 周。房价：上周重庆、唐山、济宁、安庆价格数据缺失，16 个城市中商品房（住宅）销售均价环比上涨城市为 6 个，其中宁波涨 14.6%，其他城市环比涨幅都在 10%以内。同比看，4 个城市数据缺失，10 个城市上涨，6 个城市下跌。涨幅较大的有上海（55.7%）、深圳（36.9%）、汕头（36%）、兰,楼市股市双陷低迷续调整（20130220）,板块短期继,州（32.7%）、宁波（17.5%）。春节后第一周 50 城市商品房（住宅）销售马上突破 5 万套，反映目前市场仍然火爆，春节休眠期宣告结束，但“国五条”出台可能会使小部分购房

4、者重新进入观望期，各地调控细则出台前成交量可能会维持 6 万套左右水平；库存略有下降，受成交量恢复缓慢影响，去化时间预计也将维持在 60周左右水平；房价上涨趋势继续减缓。政策方面，“国五条”已经出台，在各地细则出台前不会有太大变化；地产板块将继续震荡，走势弱于大盘，我,分析师：平海庆执业证书编号：S0760511010003电话：010-82190365邮箱：联系人：张小玲,们维持行业“中性”评级。继续重点关注万科 A、保利地产、金科股份、荣盛发展、招商地产、中南建设。近期地产板块表现：,电话：0351-8686990,房地产成交额(亿元，右轴),房地产(申万),沪深300(可比),邮箱：,孟

5、军电话：010-82190365邮箱：地址：太原市府西街 69 号国贸中心 A 座 28 层电话：0351-8686986山西证券股份有限公司http:/,290028502800275027002650,16014012010080604020,2月18日,2月19日,2月20日,2月21日,2月22日,数据来源：wind 资讯、山西证券研究所,1,行业研究|地产周报,本周行业动态,。,表 1:50 个城市成交量数据,请参阅最后一页股票评级说明和免责声明,2,行业研究|地产周报,中心城市上周,北京383,上海441,广州262,深圳27,天津217,杭州69,南京151,武汉420,重庆11

6、44,成都496,成交套数周均成交套数成交套数周均成交套数成交套数周均成交套数成交套数周均成交套数成交套数周均成交套数,本周环比同比201020112012二线城市上周本周环比同比201020112012二线城市上周本周环比同比201020112012三线城市上周本周环比同比20112012三线城市上周本周环比同比20112012,2601579.1%76.0%351530473523青岛10012561156.0%-7.1%187617001736大连172943448.3%971.6%676458532佛山9712131150.5%4.1%8111719金华334104-68.9%-50.

7、7%135250,2896556.7%5.8%396335943726宁波104595472.1%83.6%764764806南昌2101073411.0%87.9%4795871023惠州364001011.1%-4.8%555625泉州91518469.2%321.1%196217,2149720.2%97.7%153513001780福州153613300.7%246.3%338302402长春1371032653.3%14.0%156213261399汕头105281167.6%82.5%197198襄阳33328893.9%88.5%237285,8513051.9%95.6%748

8、684865厦门210935345.2%178.3%363420761海口214582081.0%320.2%456175492唐山106672534.0%7.7%250843赣州5401752224.4%166.7%570917,1814735.9%56.0%215920051990长沙3601843411.9%60.5%265916001944南宁145895517.2%27.1%10621004955包头30166453.3%-67.6%819911岳阳40151277.5%42.5%203215,8621149.3%17.4%10919441625合肥4131660301.9%36.3

9、%192515971857贵阳4811674248.0%28.7%89611162085吉林47314568.1%-39.7%614517韶关111251126.1%280.3%118158,1289753.6%19.9%9797611411昆明4471559248.8%25.1%130114091580兰州46191315.2%103.2%234168255丹东739457.1%-41.8%197103三亚51476949.6%98.2%182207,2174417.6%-17.5%269724293209石家庄395311261.5%35.8%968847838苏州217929328.1%

10、-46.8%91010452065扬州227895294.3%326.2%258267泸州52454773.1%4.8%444408,6379457.6%62.7%443931234579济南100900800.0%17.0%564932938无锡102777661.8%-5.1%11857951168安庆49424765.3%130.4%132230南充6421383115.4%187.5%538540,2305364.7%64.8%177913251833哈尔滨119506325.2%55.2%83610481736东莞7010661422.9%53.2%94011591373温州1905

11、98214.7%629.3%164309徐州6161613161.9%90.2%11441358,数据来源：wind，山西证券研究所表 2:20 个城市库存与去化时间请参阅最后一页股票评级说明和免责声明,3,行业研究|地产周报,北京,上海,广州,深圳,杭州,南京,青岛,宁波,福州,济南,上周本周环比去化时间上周本周环比去化时间,16.8016.49-1.8%63合肥13.5213.27-1.8%80,13.8513.78-0.5%48哈尔滨16.9916.95-0.2%335,5.375.26-2.1%24南昌3.293.19-2.8%30,4.604.50-2.2%53苏州3.383.32-

12、1.8%36,8.238.280.5%96无锡0.000.00#DIV/0!0,4.234.12-2.7%32东莞8.768.72-0.4%82,11.0110.96-0.4%87惠州0.000.00#DIV/0!0,13.2313.18-0.4%221济宁0.000.00#DIV/0!#DIV/0!,1.901.89-0.8%31丹东2.132.308.0%591,17.4917.600.6%196金华1.881.86-0.9%179,数据来源：wind，山西证券研究所表 3:20 个城市商品房（住宅）销售均价,上海,深圳,天津,重庆,哈尔滨,兰州,海口,无锡,宁波,东莞,上周本周环比同比上

13、周本周环比同比,1752516886-3.6%55.7%汕头89068591-3.5%36.0%,2995723953-20.0%36.9%唐山00#DIV/0!-100.0%,1185610228-13.7%3.1%包头4315514319.2%-3.9%,68010-100.0%-100.0%济宁00#DIV/0!-100.0%,88607325-17.3%-7.2%安庆00#DIV/0!#N/A,709573333.4%32.7%襄阳57575458-5.2%4.6%,85097944-6.6%-6.3%韶关491050502.8%-10.4%,769277691.0%-1.0%三亚30

14、45923762-22.0%6.5%,115811326914.6%17.5%佛山103379036-12.6%4.4%,812885755.5%2.4%丹东37973329-12.3%-0.8%,数据来源：wind，山西证券研究所请参阅最后一页股票评级说明和免责声明,4,5,6,7,8,行业研究|地产周报,图表目录,图 1：板块涨跌幅,图 2：地产板块成交量5,图 3：地产板块成交额5,图 4：个股涨跌幅,图 5：个股换手率与振幅 6,图 6：个股成交额与成交量 7,图 7：个股资金流向,图 8：十大中心城市成交套数,图 9：二线城市成交套数 9,图 10：二线城市成交套数 10,图 11：

15、三线城市成交套数 11,图 12：三线城市成交套数 12,图 13：20 城市可售套数与去化时间 13,图 14：20 城市可售套数与去化时间 14,图 15：20 城市商品房销售均价 15,图 16：20 城市商品房销售均价 16,表 4：A 股覆盖公司盈利预测 17,请参阅最后一页股票评级说明和免责声明,1.63,1.26,0.77,医药生物,电子元器件,食品饮料,0.16,-0.03,-0.08,-0.28,-0.63,-0.89,-1.57,-1.85,-2.48,信息服务,农林牧渔,轻工制造,信息设备,公用事业,综合,纺织服装,餐饮旅游,化工,-2.52,-3.02,-3.25,-4

16、.36,-4.92,-4.98,-5.00,-5.90,机械设备,商业贸易,交通运输,家用电器,交运设备,黑色金属,房地产,建筑建材,-6.32,-6.35,-8.05,-9.02,沪深300,有色金属,采掘,金融服务,09-01,09-02,09-03,09-04,09-05,09-06,09-07,09-08,09-09,09-10,09-11,09-12,10-01,10-02,10-03,10-04,10-05,10-06,10-07,10-08,10-09,10-10,10-11,10-12,11-01,11-02,11-03,11-04,11-05,11-06,11-07,11-0

17、8,11-09,11-10,11-11,11-12,12-01,12-02,12-03,12-04,12-05,12-06,12-07,12-08,12-09,12-10,12-11,12-12,13-01,13-02,09-01,09-02,09-03,09-04,09-05,09-06,09-07,09-08,09-09,09-10,09-11,09-12,10-01,10-02,10-03,10-04,10-05,10-06,10-07,10-08,10-09,10-10,10-11,10-12,11-01,11-02,11-03,11-04,11-05,11-06,11-07,11-0

18、8,11-09,11-10,11-11,11-12,12-01,12-02,12-03,12-04,12-05,12-06,12-07,12-08,12-09,12-10,12-11,12-12,13-01,13-02,5,行业研究|地产周报图 1：板块涨跌幅4.002.000.00-2.00-4.00-6.00-8.00-10.00数据来源：wind，山西证券研究所图 2：地产板块成交量,160140120,09年周均78.3亿股,10年周均66.8亿股,11年周均54.4亿股,12年周均58.5亿股,100806040200数据来源：wind，山西证券研究所图 3：地产板块成交额,1800

19、1600,09年周均815亿元,14001200,10年周均629亿元,11年周均471亿元,12年周均408亿元,10008006004002000数据来源：wind，山西证券研究所请参阅最后一页股票评级说明和免责声明,6,行业研究|地产周报图 4：个股涨跌幅,涨 幅 前 20 名,跌 幅 前 20 名,股票名称,收盘价2月22日,近5日%,近10日%,近20日%,近60日%,股票名称,收盘价2月22日,近5日%,近10日%,近20日%,近60日%,中国武夷上海新梅华业地产华丽家族中国国贸沙河股份云南城投丰华股份浦东金桥深长城外高桥电子城鼎立股份实达集团万方地产城投控股城投控股城投控股迪马股

20、份轻纺城,6.519.615.005.7712.1810.238.0010.148.6924.539.698.8511.383.817.306.106.106.104.016.21,25.4312.408.708.465.915.573.232.742.361.451.040.800.800.790.270.000.000.00-0.25-0.32,28.9120.587.536.657.416.232.96-1.360.4622.04-1.229.261.162.145.498.738.738.731.010.49,25.9216.341.6313.145.4513.67-2.321.91-

21、1.1422.042.1119.92-1.902.70-0.548.168.168.161.522.81,37.34 金地集团49.22 中航地产17.37 刚泰控股22.51 深振业A18.02 香江控股39.56 中弘股份14.29 京能置业2.22 莱茵置业38.60 金丰投资30.62 华侨城A34.21 创兴资源35.11 运盛实业7.36 南京高科10.43 金融街18.70 广宇集团29.51 珠江实业29.51 北京城建29.51 滨江集团1.52 中润资源8.57 世联地产,6.927.0015.375.107.747.974.634.296.136.4411.854.301

22、1.636.544.5412.5712.749.377.7014.17,-12.74-9.56-9.48-9.41-9.37-9.12-9.04-8.92-8.92-8.39-8.35-8.12-7.99-7.89-7.72-7.71-7.61-7.41-7.23-7.20,-7.73-6.29-11.05-7.94-3.85-8.71-4.146.72-5.98-4.17-8.494.88-8.86-6.17-2.58-7.37-10.53-6.95-5.17-10.09,-1.28-10.60-13.41-1.5423.84-14.12-0.437.25-2.54-11.66-5.656.

23、17-4.44-6.57-5.61-17.52-13.16-13.80-4.58-1.73,35.4228.91-7.6927.5067.9028.7614.6015.0115.8812.2014.3814.6723.8616.3713.5035.0212.9412.892.9419.58,数据来源：wind，山西证券研究所图 5：个股换手率与振幅,日均换手率前20名,振幅前20名,股票名称,收盘价2月22日,近5日%,近10日%,近20日%,近60日%,股票名称,收盘价2月22日,近5日%,近10日%,近20日%,近60日%,华丽家族沙河股份上海新梅香江控股中国武夷中弘股份创兴资源招商地产浙

24、江东日珠江实业华业地产大名城云南城投多伦股份金丰投资道博股份金地集团黑牡丹绿景控股运盛实业,5.7710.239.617.746.517.9711.8526.139.7112.575.005.898.006.696.1310.356.927.315.934.30,11.769.797.284.393.873.743.443.393.333.293.213.012.992.952.502.502.492.462.462.45,8.777.895.504.632.323.683.493.234.343.482.293.262.632.932.815.052.542.292.603.19,10.20

25、10.803.935.231.564.564.553.106.974.752.093.842.774.564.643.932.612.402.742.31,6.05 中国武夷7.10 华丽家族2.89 华业地产3.77 金地集团1.06 中弘股份5.87 香江控股4.58 北辰实业2.43 阳光城7.31 中航地产8.01 莱茵置业2.05 上海新梅8.14 沙河股份3.34 金丰投资4.29 珠江实业4.13 深振业A3.44 外高桥1.89 华侨城A4.55 浙江东日4.64 华夏幸福1.56 空港股份,6.515.775.006.927.977.743.3616.657.004.299.

26、6110.236.1312.575.109.696.449.7125.437.21,27.1718.2317.6114.5014.3713.0012.5712.5612.4012.3112.2811.7611.7411.6011.5511.4711.3811.0910.8510.70,32.8719.2217.4219.2014.4314.4113.3113.0914.5926.1231.6215.3715.6413.2612.4511.2111.9017.6112.1319.61,33.0828.6316.4622.9721.2347.6827.9122.8018.2629.5030.512

27、6.7821.6226.0514.2920.9715.7824.3616.6119.44,48.7349.0439.2063.4171.08105.2142.9165.2366.3049.3360.5677.3555.2084.2151.7564.2737.2864.3140.7539.69,数据来源：wind，山西证券研究所请参阅最后一页股票评级说明和免责声明,7,行业研究|地产周报图 6：个股成交额与成交量,成交量前20名,成交额前20名,股票名称,收盘价2月22日,近5日亿股,近10日亿股,近20日亿股,近60日亿股,股票名称,收盘价2月22日,近5日亿元,近10日亿元,近20日亿元,近

28、60日亿元,华丽家族金地集团万科A保利地产华侨城A华业地产金融街亿城股份北辰实业荣盛发展招商地产新湖中宝华联控股冠城大通沙河股份首开股份云南城投上海新梅名流置业中国宝安,5.776.9211.3212.406.445.006.543.943.3613.2526.133.873.706.5410.2310.808.009.612.199.11,6.465.564.883.672.642.281.591.421.221.171.161.061.040.990.990.970.930.900.890.88,9.6411.3810.368.325.233.253.312.472.652.142.212

29、.401.762.361.592.141.641.362.671.69,22.4423.3126.8017.5811.395.947.164.217.033.994.255.596.365.684.365.013.471.954.914.95,39.92 万科A50.69 保利地产45.17 金地集团42.74 华丽家族28.86 招商地产17.47 华侨城A19.02 荣盛发展12.77 华业地产12.80 金融街9.90 首开股份9.99 沙河股份15.92 上海新梅13.54 中国宝安15.89 云南城投8.59 华夏幸福12.09 创兴资源12.53 珠江实业4.30 冠城大通13.6

30、5 香江控股10.29 滨江集团,11.3212.406.925.7726.136.4413.255.006.5410.8010.239.619.118.0025.4311.8512.576.547.749.37,55.6945.7339.7636.8830.4617.4815.3510.9010.7610.6510.128.518.187.487.436.896.776.496.396.19,121.40106.5485.2753.7959.5435.0728.6415.4122.8123.9816.0112.1415.8513.0212.2714.2814.7115.5913.5611.6

31、1,318.01232.10170.79119.83119.2277.5655.7928.1249.6757.8444.2516.9446.8327.3226.0237.7741.8737.7828.1227.73,487.41553.96341.25202.02275.17193.91130.1979.32125.47140.1878.0533.3192.5099.9779.56107.95191.49100.1150.8487.51,数据来源：wind，山西证券研究所图 7：个股资金流向,资金流入前20名,资金流出前20名,股票名称,收盘价2月22日,近5日百万元,近10日百万元,近20日

32、百万元,近60日百万元,股票名称,收盘价2月22日,近5日百万元,近10日百万元,近20日百万元,近60日百万元,云南城投中国武夷,8.006.51,61.6148.37,61.6148.37,-59.8453.64,-513.04 金地集团58.41 万科A,6.9211.32,-397.67-256.09,-397.67-256.09,-325.25340.23,-674.601,504.66,华丽家族,5.77,37.30,37.30,27.64,-435.51 保利地产,12.40,-227.88,-227.88,-592.05-1,024.04,华业地产浦东金桥世荣兆业银基发展大龙地

33、产信达地产深长城万好万家黑牡丹阳光股份津滨发展泰禾集团外高桥轻纺城天房发展中茵股份中茵股份,5.008.6910.153.963.154.2824.537.517.315.532.878.289.696.213.7410.4810.48,30.1027.656.684.252.842.331.781.581.371.220.840.820.480.290.100.000.00,30.1027.656.684.252.842.331.781.581.371.220.840.820.480.290.100.000.00,-3.315.3446.203.45-2.16-28.45-1.36-3.94

34、-22.45-8.31-33.6711.33-8.559.9111.875.065.06,-100.96 华侨城A35.86 首开股份47.29 创兴资源-28.87 金融街1.78 滨江集团-13.08 招商地产0.54 荣盛发展-54.38 珠江实业-197.21 华发股份73.94 中华企业-29.92 广宇发展-18.58 中国宝安-19.08 冠城大通-30.38 中航地产-10.92 南京高科-14.75 福星股份-14.75 北京城建,6.4410.8011.856.549.3726.1313.2512.577.955.276.839.116.547.0011.638.4612.

35、74,-217.61-167.56-115.45-98.36-88.79-80.42-69.26-65.90-60.85-58.00-57.98-55.78-55.11-52.79-51.04-50.42-49.99,-217.61-167.56-115.45-98.36-88.79-80.42-69.26-65.90-60.85-58.00-57.98-55.78-55.11-52.79-51.04-50.42-49.99,-477.65-315.50-227.92-121.05-85.62-403.28-207.00-241.17-125.15-146.61-96.91-166.57-12

36、9.18-61.18-76.98-159.33-38.00,-559.00-601.52-366.0587.50-280.86-754.07-265.17-713.11-137.24-152.89-151.01-221.67-94.25-409.64-123.61-370.92-126.13,数据来源：wind，山西证券研究所请参阅最后一页股票评级说明和免责声明,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-

37、03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-

38、03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-

39、03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-

40、03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-

41、03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,8,行业研究|地产周报图 8：十大中心城市成交套数,北京商品房1000080006000400020000广州商品住宅1000080006000400020000天津商品房80006000400020000南京商品住宅50004000

42、3000200010000重庆商品房200001600012000800040000数据来源：wind，山西证券研究所请参阅最后一页股票评级说明和免责声明,1000080006000400020000300025002000150010005000500040003000200010000600050004000300020001000080006000400020000,上海商品房深圳商品房杭州商品房武汉商品房成都商品住宅,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,1

43、1-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,1

44、1-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,1

45、1-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-08,09-10,09-12,10-02,10-04,10-06,10-08,10-10,10-12,11-02,11-04,11-06,11-08,11-10,1

46、1-12,12-02,12-04,12-06,12-08,12-10,12-12,13-02,10-06,10-07,10-08,10-09,10-10,10-11,10-12,11-01,11-02,11-03,11-04,11-05,11-06,11-07,11-08,11-09,11-10,11-11,11-12,12-01,12-02,12-03,12-04,12-05,12-06,12-07,12-08,12-09,12-10,12-11,12-12,13-01,13-02,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,1

47、0-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,9,行业研究|地产周报图 9：二线城市成交套数,青岛商品住宅80006000400020000福州商品住宅21

48、001800150012009006003000长沙商品住宅750060004500300015000昆明商品房6000500040003000200010000济南商品房40003200240016008000数据来源：wind，山西证券研究所请参阅最后一页股票评级说明和免责声明,3000250020001500100050002500200015001000500040003000200010000500040003000200010000150001350012000105009000750060004500300015000,宁波商品房厦门商品住宅合肥商品房石家庄商品房哈尔滨商品房,0

49、9-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,0

50、9-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,09-01,09-03,09-05,09-07,09-09,09-11,10-01,10-03,10-05,10-07,10-09,10-11,11-01,11-03,11-05,11-07,11-09,11-11,12-01,12-03,12-05,12-07,12-09,12-11,13-01,0