Three essential Characteristics marked the operation situation of Henan’s real estate in 2015 which are continuous adjustment，better performance than the national average，and clearly continuous differentiation. The future trend of real estate market in China will be decided by the following factors：the effectiveness of government’s efforts on bail-outs，the sustainability of new urbanization，and diversification of financial market funds supply structure and the speed of the resolving of real estate inventory. In the context of ‘new normal’，the supply of structural surplus becomes so common. Henan real estate development must be driven by innovation which includes financial innovation，business innovation，mechanism innovation and mode innovation.