Housing sales across seven major Indian cities declined 6% year-over-year to 90,715 units in the April-June 2026 quarter, according to data released Monday by real estate consultant Anarock. The drop came amid subdued demand driven by economic uncertainties and a 7% annual rise in average home prices.
City-wise Performance
Sales fell in four of the seven cities tracked. The Mumbai Metropolitan Region (MMR) saw an 8% decline to 28,710 units from 31,275 a year ago. Delhi-NCR dropped 6% to 13,365 units. Pune recorded the steepest fall — 15% to 13,090 units — while Chennai declined 9% to 5,135 units.
Three cities bucked the trend: Bengaluru edged up 1% to 15,285 units, Hyderabad rose 2% to 11,270 units, and Kolkata posted a 10% gain to 3,860 units.
| City | Q2 2025 Sales | Q2 2026 Sales | Change |
|---|---|---|---|
| MMR | 31,275 | 28,710 | -8% |
| Delhi-NCR | 14,255 | 13,365 | -6% |
| Pune | 15,410 | 13,090 | -15% |
| Chennai | 5,660 | 5,135 | -9% |
| Bengaluru | 15,120 | 15,285 | +1% |
| Hyderabad | 11,040 | 11,270 | +2% |
| Kolkata | 3,525 | 3,860 | +10% |
| Total | 96,285 | 90,715 | -6% |
Price Trends and New Supply
Average housing prices rose 7% annually across these cities in the second quarter. Delhi-NCR saw the highest appreciation at 13% year-over-year, according to Anarock.
New launches (fresh supply) increased 7% to 1,06,000 units from 98,625 units in the same period last year, indicating developers continue to bring new inventory to market despite slowing sales.
Market Context
Anuj Puri, Chairman of Anarock, attributed the slowdown to external factors. "These readings are along expected lines, as the Middle East war’s impacts on the entire sector were all too obvious," he said. He added that "the Middle East war’s disruptions and, inevitably, AI-related uncertainties in the IT/ITeS sector have pushed more buyers onto the fence."
Interestingly, Anarock’s data is at odds with a report from listed entity PropEquity, which pegged residential sales growth at 19% to 1,12,458 units for the same quarter. The discrepancy highlights differing methodologies and coverage, though both point to shifting demand patterns.
Puri noted that housing demand is now concentrated in premium housing, Global Capability Centre (GCC)-led employment hubs, and infrastructure-driven corridors, signaling a bifurcation in the market.
For investors and executives, the data underscores a cooling in the mass-market segment even as premium and location-specific demand remains resilient. The 7% price appreciation, combined with rising new supply, may further pressure affordability and transaction volumes in coming quarters.
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