Housing sales across top seven cities dip by 20% year-on-year

Housing sales across top seven cities has declined to 96,285 units during April-June, second lowest in a quarter in two years as steep rise in property prices, geopolitical tensions including Operation Sindoor and the Iran-Israel war impacted sentiment among homebuyers.

According to Anarock data, in 2023 and 2024, over 100,000 units were sold every quarter while in 2025, 93,280 units were sold in Jan-March while 96,285 units in the current quarter, signalling distress in the sector.

There was an annual sales drop of 20%, as 1,20,335 units were sold in Q2 2024.


“The second quarter of 2025 was a rollercoaster for the Indian housing market, rocked by major military actions at home and abroad. The war-like climate pushed homebuyers into wait-and-watch mode, compounding the impact of soaring property prices over the past two years. Now, with domestic tensions easing and the RBI’s repo rate cut injecting fresh optimism, buyer sentiment is rebounding,” said Anuj Puri, chairman, Anarock group.

MMR and Pune together accounted for over 48% of total sales in the top 7 cities, while Chennai was the only city to see a yearly rise (11%) in housing sales in the quarter against.

New launches also dipped by 16% Y-o-Y – from 1,17,165 units in Q2 2024 to 98,625 units in Q2 2025. Realty hotspots MMR and NCR saw the maximum new supply, accounting for 48% of the total new supply additions across the top 7 cities. Individually, MMR witnessed a 36% yearly decline and a 8% quarterly decline in new supply.

NCR witnessed a 69% Q-o-Q jump in new supply in Q2 2025 against Q1 2025, and a 10% yearly rise.

"With home loan rates softening and developers largely holding prices steady, the stage is set for a potential upswing in housing sales in the coming quarters,” Puri said.

Average residential prices rose by a meagre 1% quarterly, but the annual rise has been 11% in the top 7 cities. The annual growth rate has certainly seen a downward trend in the quarter.

“NCR led the pack in Q2 2025 with a 27% year-on-year surge and a 4% quarterly rise in residential prices. Bengaluru followed with a robust 12% annual jump, underscoring strong momentum in key markets. If prices remain in check, expect housing sales across major cities to accelerate in the coming quarters,” said Puri.

Unsold inventory across the top 7 cities saw a marginal quarterly increase in the quarter - to 5.62 lakh units by Q2 2025-end against 5.60 lakh units in Q1 2025. Annually, unsold inventory decreased by 3% across the top 7 cities, with Pune witnessing the highest yearly decline of 15% - from 94,770 units by Q2 2024-end to 80,240 units by Q2 2025-end.