"De-stocking", Commercial Housing Price and Fixed Asset Investment-Based on Panel Data of 31 Provinces from 2005 to 2014

The high inventories of commercial houses restrict the healthy development of the real estate industry in our country, and influence the smooth development of the national economy. Housing sales of residential enterprise is the most direct economic indicator to de-stocking. The more sales, the de-stocking is more obvious. This paper, based on the national data of 31 provinces from 2005 to 2014, takes the panel empirical model and finds a conclusion. If the average sales price of commodity houses increases one point, the housing sales volume of housing enterprises decreases 0.301384 point. If fixed investment increases one point, the housing sales volume increases 0.462919 point. If the number of housing enterprises increases one point, the housing sales volume increases 0.521230 point. If the domestic loan of housing enterprises increases one point, the housing sales volume increases 0.240155. If the added value of the tertiary industry increases one point, the housing sales volume decreases 0.278945. Finally, according to the empirical results and present situation in the housing industry, the text puts forward some suggestion.