The real estate sector, which had rebounded significantly in the earlier period, has recently seen some adjustments. In the eyes of several fund managers interviewed, the valuation recovery trend of the real estate sector may have come to a temporary halt. Before the real turning point in real estate policy arrives, it is the best strategy to obtain absolute returns through swing trading. According to the recent survey results from HFT Fund Management Co., Ltd.: The sales situation of real estate projects in February this year was generally better than that in the fourth quarter of last year, and the situation of both volume and price falling simultaneously has been somewhat relieved. "The expectations of home buyers are beginning to change subtly with the reduction in reserve requirement ratio and the relaxation of local policies. With all these factors combined together, transactions have shown a certain degree of warming up." Moreover, the "Notice of the General Office of the State Council on Actively and Steadily Promoting the Reform of the Household Registration Management System" published recently was also interpreted by the market as having a positive impact on the housing market. HFT Fund Management Co., Ltd. believed that in the future, the relaxation of real estate industry policies may affect the logic of the entire market. As the logic changes, the real estate and even related investment goods industries will be affected. Regarding this, Zhang Xufeng, a fund manager at Tiantai Fund Management Co., Ltd., believed that, "The rise in real estate stocks last week was not entirely due to the adjustment of Shanghai's real estate policies; the policies were just icing on the cake. The current sales recovery is fundamental because there is still genuine demand for first homes, and developers are indeed cutting prices to recover funds. However, real estate policies will not loosen in the short term, mainly because the central government does not want the market expectation to rise, leading to another price increase."