Housing sales down 6% in April-June in top 7 cities, average price up 7%: Report

Housing sales across India's seven largest cities fell 6% year-on-year in the April-June quarter as the conflict in West Asia and the resulting uncertainty prompted homebuyers to defer purchases, property consultancy Anarock said on Monday.

Residential sales across the top seven cities declined to about 90,715 units in the second quarter from about 96,285 units a year earlier.

Compared with the January-March quarter, sales were down 11%, according to Anarock Research.

Interestingly, real estate consultant Anarock's sales data for April-June quarter is in complete contrast to a latest report by listed entity PropEquity, which mentioned a 19% growth in sales of residential properties at 1,12,458 units in the current quarter.

Mumbai Metropolitan Region (MMR) and Bengaluru remained the country's biggest housing markets, accounting for nearly 48% of total sales during the quarter with about 28,710 units and 15,285 units sold, respectively.

Only Kolkata, Hyderabad and Bengaluru posted annual growth in sales, rising 10%, 2% and 1%, respectively.

Pune recorded the steepest decline, with sales dropping 15% from a year earlier.

"The Middle East war's impacts on the entire sector were all too obvious," Anarock Chairman Anuj Puri said in a statement.

"What we have currently is a more balanced housing market where new supply is catching up with absorption as sales growth moderated across most top cities."

Puri said premium housing, cities with strong global capability centre (GCC) employment and infrastructure-led corridors are now seeing the most sales growth, but the conflict in West Asia and uncertainty surrounding artificial intelligence's impact on the IT and IT-enabled services sector had made many buyers postpone purchase decisions.

Despite weaker sales, developers launched about 1,06,000 new homes during the quarter, up 7% from about 98,625 units a year earlier. However, the launches fell 16% from the previous quarter.

MMR and Bengaluru together accounted for 53% of all new launches, adding about 34,555 units and 21,670 units, respectively.

Hyderabad recorded the highest annual growth in new launches at 53%, followed by Bengaluru at 41% and MMR at 23%.

Puri said large listed developers continued to bring projects to market on land parcels acquired during 2025, helping sustain new launches despite softer demand.

However, developers moderated fresh supply compared with the previous quarter as buyer sentiment weakened.

Houses priced between ₹80 lakh and ₹1.5 crore accounted for the largest share of launches at 27%, followed by homes priced between ₹1.5 crore and ₹2.5 crore at 25%.

Luxury homes priced above ₹2.5 crore made up 22% of launches, while the mid-segment priced between ₹40 lakh and ₹80 lakh accounted for 19%.

Affordable housing, priced below ₹40 lakh, contributed just 6% of total launches, remaining in single digits.

Average residential prices across the seven cities rose 7% from a year earlier but increased only 1% from the previous quarter, indicating that price growth continued to moderate after double-digit gains seen last year.

The National Capital Region recorded the highest annual price increase of 13%, followed by Bengaluru at 8%.

Unsold housing inventory across the seven cities increased 10% year-on-year to more than 6.16 lakh units by the end of June.

Bengaluru recorded the biggest rise in available inventory, up 34%, while NCR was the only market where inventory levels remained largely unchanged.