Housing Sales and Supply Decline Across Nine Major Cities
Housing sales and new supply have declined significantly in nine major cities, with Mumbai experiencing the steepest drop. Only Delhi-NCR and Chennai have seen an increase in sales.
Housing SalesReal EstateMarket DeclineMajor CitiesProperty SupplyReal Estate NewsJun 22, 2025
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%).
This is for the first time since Q3 2021 (July-September) that housing sales are expected to fall 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, said Samir Jasuja, Founder and CEO, PropEquity.
Delhi-NCR has witnessed the maximum growth in this quarter owing to a rise in supply in Ghaziabad and Greater Noida, Jasuja added.
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.
Frequently Asked Questions
Which cities saw the steepest decline in housing sales?
Mumbai witnessed the steepest decline in housing sales, with a 34% drop YoY. Thane also saw a significant decline of 34% YoY.
Which cities saw an increase in housing sales?
Delhi-NCR and Chennai saw an increase in housing sales, with Delhi-NCR registering a 16% rise and Chennai a 9% rise YoY.
What is the current trend in housing supply?
Housing supply has declined in six out of nine cities. Delhi-NCR, Hyderabad, and Chennai are the exceptions, with increases of 37%, 19%, and 6%, respectively.
Why are housing sales and supply below the 1 lakh unit mark?
This is the first time since Q3 2021 that housing sales have fallen below the 1 lakh unit mark. Supply has also remained below this mark for the fourth consecutive quarter, indicating a stabilisation in the market after highs in 2023 and 2024.
What factors are contributing to the decline in housing sales and supply?
Several factors, including high prices, geopolitical uncertainty, and market stabilization after previous highs, are contributing to the decline in housing sales and supply across major cities.
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