In 2020，affected by the epidemic and housing speculation，the central bank’s three red lines and other policies，the real estate industry sales growth slowed down，turnover slowed down，most enterprises are actively debt reduction，but the overall financial pressure of the industry is still very large，the real estate industry may face deep adjustment. This report from debt paying ability，operation efficiency，financing ability，growth potential and the rating scale factors on the listed real estate companies，and then the comprehensive real estate enterprises index score of the comprehensive strength of the real estate listed companies，the results show that the 135 listed property companies comprehensive strength score averages 3.84 points，a median of 3.84 points. Among them，49 companies （accounting for 36.3% of the total number of listed real estate companies） with all operating scores （debt paying ability，financing ability，operating efficiency，and growth potential） above 2 scores without significant problems after excluding the factor of size；However，there were only 11 companies，accounting for 8.1% of the total number of listed real estate companies，with all operating scores above 5 and no obvious shortcoming. In contrast，more than 60% of all listed real estate companies have at least one business score less than 2 points，that is，they are facing serious business problems. Among the major real estate listed companies，12.6% had no obvious shortcoming，and 56.3% had scored less than 2 points in at least one business score. Longhu real estate，overseas Chinese，China resources land，poly real estate，gemdale，vanke，shimao group，c&d co，new city holdings，country garden，Long Guang group，green land holdings，riverside group，yanlord land，oct，China international trade，xu hui holdings，agile，RongAn property，China merchants shekou entered the comprehensive power ranking of the TOP 2020 listed companies in real estate 20. Finally，we take solvency and financing capacity as the horizontal axis and operating efficiency and growth potential as the vertical axis to analyze the survival matrix of real estate enterprises. The conclusion is that 18% of enterprises are currently facing survival pressure，and 14% of enterprises still have room for transformation to save themselves although they are under great financial pressure. Although 23% of enterprises have little financial pressure in the short term，they can only expand their living space through cooperative development due to the limitation of efficiency level and growth space. The remaining enterprises with real sustainable development potential only account for 45%，of which 15% have integration potential.