Housing Sales Plummet Across Major Cities: PropEquity Report

Housing sales are projected to decline by 19% in the April-June quarter across nine major cities, according to PropEquity. For the first time since mid-2021, sales have dropped below 100,000 units. New supply also fell, with notable declines in cities like Mumbai and Pune, although growth persists in Delhi-NCR and Chennai.

Housing sales in nine major cities are predicted to decline by 19% this April-June due to subdued demand and lower launches, as per real estate analysts PropEquity.

This marks a significant dip below the 100,000-unit mark, observed for the first time since Q3 2021, with a 30% reduction in new supply.

While cities like Mumbai and Pune experience steep declines, Delhi-NCR and Chennai defy the trend with growth in housing sales, signaling shifts in the real estate landscape.

(With inputs from agencies.)