2026 Real Estate Slump: City-Wise Trends and Insights
Housing sales across India’s top cities have declined during the first quarter of 2026. According to recent data, home sales in the top nine cities fell by around 13% between January and March, with total sales dropping to 98,761 units compared to the same period last year.
This is the first time in nearly 18 quarters that housing sales have fallen below the one lakh mark, indicating a slowdown in the real estate market.
Reasons Behind the Decline
Market experts point to global uncertainties, especially tensions in West Asia, as a key factor affecting buyer sentiment. In addition, a reduction in new housing supply has also contributed to the dip in sales.
The data shared by PropEquity suggests that most major cities saw a decline, except a few.
City-Wise Housing Sales Performance
Hyderabad
Housing sales dropped by 16%, with 11,546 units sold compared to 13,725 units last year.
Bengaluru
Sales showed a slight increase of 3%, reaching 17,991 units.
Delhi NCR
Sales rose by 13%, with 12,141 units sold during the quarter.
Chennai
Sales declined by 4%, with 4,765 units sold.
Mumbai
A sharp decline of 20% was recorded, with sales falling to 9,186 units.
Navi Mumbai
Sales decreased by 14%, totaling 7,157 units.
Thane
Sales fell by 24%, with 15,959 units sold.
Pune
Sales dropped by 25%, with 16,144 units compared to over 21,000 units last year.
Kolkata
Sales declined by 8%, with 3,872 units sold.
New Housing Supply Also Declines
The supply of new housing projects also saw a decline. Between January and March 2026, around 92,411 new units were launched. This is a 19% drop compared to 1,14,718 units launched during the same period in 2025.
Conclusion
The first quarter of 2026 has shown a slowdown in India’s housing market, with both sales and new supply decreasing. While some cities like Bengaluru and Delhi NCR have shown growth, most regions have experienced a dip. Market trends in the coming months will depend on global conditions and improvements in buyer confidence.
