There has been a big decline in the sales of residential houses in the country during the April-June quarter. It has reached its lowest level since January 2023. This information was given by real estate consultant firm Enrock. Buyer sentiment across the country has been affected due to uncertainty caused by the Iran war and disruptions in the supply chain. A total of 4,04,005 units have been sold in FY26, which is the lowest since FY23. Home sales declined by 6%, highest decline of 15% in Pune According to Enrock data, home sales declined by 6% year-on-year to 90,715 units in this quarter, while 96,285 units were sold in Q2 2025. On a quarter-on-quarter basis, housing sales have declined by 11%. Among the top 7 cities, only Kolkata has seen an annual growth of 10%, Hyderabad 2% and Bengaluru 1%. On the other hand, Pune has recorded the highest annual decline of 15% during this quarter. However, the premium housing segment, GCC-based employment hubs and infrastructure corridors still have the highest sales growth. The share of MMR and Bengaluru was more than 48%. The share of Mumbai Metropolitan Region and Bengaluru was more than 48% in the total sales of top-7 cities of the country. Overall, around 43,995 units have been sold across these two cities in Q2 2026. Enrock Group Chairman Anuj Puri said that these figures are as per estimates, because the impact of the Middle East War on the entire sector was clearly visible. Apart from this, the disruptions caused by the war and uncertainties related to AI in the IT/ITES sector have forced buyers to wait for now. Launch of new projects increased by 7% annually. The launch of new houses in the market has increased by 7% on annual basis. It increased from 98,625 units in Q2 2025 to 1,06,000 units in Q2 2026. New supply was dominated by MMR and Bengaluru, accounting for 53% of the total new inventory. MMR, Pune, Hyderabad and Bengaluru accounted for 81% of the total new launches. New supply in top cities declined by 16% on a quarterly basis. Anuj Puri said that large and listed developers launched projects on large land parcels purchased in 2025, due to which new launches remained strong on an annual basis. However, new supply in top cities declined by 16% quarter-on-quarter as many developers slowed down new supply due to weak buyer sentiment. Average home prices increase by 7% annually, biggest jump in NCR What is inventory? ‘Inventory’ in real estate parlance refers to those ready or under-construction homes that are available for sale with developers but have not yet been sold. The main reasons for worsening market sentiment are the ongoing war in the Middle East, disruptions in the global supply chain and uncertainty about jobs created by AI in the IT sector. Also read this news… British American Tobacco will lay off 9,000 employees this year: Steps taken to reduce expenses and adopt AI; Global cigarette volume is expected to decline by 2.5% London-based British American Tobacco, one of the world’s largest tobacco companies, is going to cut about one-fifth of its total 47,000 employees this year, or about 20%. Read the full news…
Source link
[ad_3]
Home sales in June quarter lowest since January 2023: Sentiment deteriorated due to West Asia war and supply chain crisis; 90,715 houses sold in top-7 cities
