Promoting urbanization and lowering housing prices are regarded as the main measures to reduce the huge inventory of real estate market. The data of 35 big and medium-sized cities of China during 2001-2013 are used to empirically test the influence of urbanization promotion and housing prices decrease on the destocking of real estate and the results show that overall speaking, the development of urbanization and lowering housing prices can effectively reduce the current surplus inventory of real estate but there is significantly regional difference, in the eastern region, the destocking-effect of promoting urbanization is more obvious but lowering housing prices effect is limited; in the Midwest, by contrast, lowering housing prices can play a significant destocking-role while promoting urbanization effect is insignificant. Furthermore, we find that the increase of per capita income also has an active impact on the inventory reducing of real estate, however, the higher the regional financial revenue is and the bigger the regional population density is, the bigger the pressure of the destocking of its real estate is. Thus, the destocking of real estate should make appropriate policy based on different place situation and realize accurate adjustment according to the market situation of different cities.