Housing Market Update: Q2 2024 Sees 8% Decline in Sales Despite Annual Growth
Get the latest insights on the housing market as ANAROCK Research reveals a surprising 8% drop in sales in Q2 2024, despite a 5% annual growth
Housing SalesReal EstateIndian Housing MarketAnarock ResearchQ2 2024Real Estate NewsJul 01, 2024
Despite the decline, the market is expected to bounce back in the coming quarters. The ongoing infrastructure development, coupled with the government's efforts to boost the economy, are expected to drive growth in the housing sector. The demand for housing is still strong, especially in the mid-segment and affordable housing categories.
The top seven cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata, accounted for the majority of the sales. Mumbai saw the highest sales, followed closely by Delhi-NCR. Bengaluru and Pune also witnessed significant sales, driven by the presence of IT and technology companies.
The decline in sales can be attributed to various factors, including the ongoing liquidity crisis, high property prices, and a general slowdown in the economy. However, experts believe that the market will recover soon, driven by the Government's initiatives to boost the economy and the RBI's decision to cut interest rates.
ANAROCK Research, a leading real estate research firm, has been tracking the housing market trends for years. With its expertise and in-depth analysis, the firm provides valuable insights to stakeholders, helping them make informed decisions.
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ANAROCK Research is a leading real estate research firm that provides comprehensive data and insights on the Indian housing market. With its expertise and in-depth analysis, the firm helps stakeholders make informed decisions.
ANAROCK Research is a leading real estate research firm that provides comprehensive data and insights on the Indian housing market.
Frequently Asked Questions
What was the decline in housing sales in Q2 2024?
Housing sales dropped by 8% in Q2 2024 compared to the previous quarter.
How many units were sold in Q2 2024?
Around 120,340 units were sold in Q2 2024.
What is the annual growth rate of the housing market?
The annual growth rate of the housing market has seen a 5% increase.
Which cities accounted for the majority of the sales?
The top seven cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata, accounted for the majority of the sales.
What are the factors contributing to the decline in sales?
The ongoing liquidity crisis, high property prices, and a general slowdown in the economy are contributing to the decline in sales.
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