Housing sales drop by 19% across nine cities, and supply dips by 30%.; Mumbai sees steepest decline: Report
Housing sales fell 19% year-on-year to 94,864 units, while new supply dropped 30% to 82,027 units across nine cities during April–June 2025
Housing sales across nine major cities are projected to decline by at least 19% year-on-year (YoY) in the second quarter of 2025 (April–June), while new supply is expected to drop by 30% during the same period, according to data analytics firm PropEquity.
Mumbai witnessed the steepest decline in both metrics, with housing sales falling 34% to 8,006 units YoY and new supply plunging 61% to 4,949 units YoY. Thane also saw a 34% dip in sales YoY and supply falling by 58% YoY.
Sales declined YoY in seven out of the nine cities surveyed. Only Delhi-NCR and Chennai bucked the trend, registering a YoY rise in housing sales by 16% and 9%, respectively.
On the supply front, six cities recorded a decline. Delhi-NCR led the exceptions with a 37% increase in new housing stock, followed by Hyderabad (19%) and Chennai (6%).
Also Read: Housing sales in Q1 2025 set to drop 23% amid high prices and geopolitical uncertainty
Housing sales fall below the 1 lakh unit mark for the first time in 4 years
The report said that this is for the first time since Q3 2021 (July-September) that housing sales is expected to fall below 1 lakh unit mark followed by supply, too, expected to remain below 1 lakh unit mark for the fourth consecutive quarter.
“This is for the first time since Q3 2021 (July-September) that housing sales have fallen below the 1 lakh unit mark. Supply, too, has stayed below the 1 lakh unit mark for the fourth consecutive quarter. There has been a decline in both sales and supply on a Q-o-Q basis in Mumbai, Bengaluru and Navi Mumbai as these cities recorded their highs in 2023 and 2024, and are now stabilising to their normal pace," Samir Jasuja, Founder and CEO, PropEquity said.
“Delhi-NCR has witnessed the maximum growth in this quarter owing to a rise in supply in Ghaziabad and Greater Noida," Jasuja said.
Also Read: Mumbai real estate market: Planning to sell a flat in an old building? Here’s why it can be tough
Key city data
According to the report, housing sales in Bengaluru declined by 6% to 14,676 units in Q2 while supply fell by 13% to 14,243 units on YoY basis.
In Hyderabad, housing sales fell by 20% to 11,815 units in Q2, while supply rose by 19% to 10,544 units.
Meanwhile, in Navi Mumbai, housing sales fell by 17% to 6,833 units in Q2, while supply fell by 56% to 4,592 units. In Pune, housing sales fell by 27% to 17,196 units in Q2, while supply fell by 40% to 14,845 units.
