Indian housing construction with cranes at sunset.
Housing sales in India’s top 9 cities experienced a downturn in Q1 2026, falling below the 1 lakh unit mark after 18 consecutive quarters of growth, according to recent data. The decline is primarily attributed to reduced supply across major markets.
Specifically, sales dropped to 98,761 units during the quarter, while new launches also contracted to 92,411 units. This marks a notable shift from previous trends, signaling a potential moderation in demand coupled with a slowdown in new supply entering the market.
Not all markets experienced the downturn equally. Bengaluru and Delhi-NCR were the exceptions, recording growth in sales during the same period. However, most other major cities witnessed a decline, contributing to the overall contraction in the national figures.
The data suggests a cooling phase for the Indian housing market, which has been robust in recent years. Market analysts will be closely watching upcoming quarters to determine if this is a temporary correction or the start of a more prolonged slowdown.
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