since the 19th National Congress of the Communist Party of China，China’s real estate market is gradually entering a new period of development. The main performances are：first，the transformation from manufacturing to service；second，the transformation from increment to stock；third，the transformation from purchase to lease；fourth，the regression from market function to security function. In 2019，China’s real estate market as a whole shows a steady downward trend. Looking forward to 2020，with the gradual control of domestic epidemic situation，the improvement of macro policy environment，the centralized release of over suppressed market demand，the market will recover rapidly，and the market sales and investment will be gradually repaired. It is expected that the annual market sales will fall further，about 15 trillion square meters，down by about 10%；the growth rate of land acquisition area may turn from negative to positive at the end of the year；the growth rate of real estate development investment may fall sharply to about 3%；the market price is expected to maintain a small and stable downward trend.