PropEquity reports that unsold housing inventories in nine major cities decreased by 7% in the last three months to approximately 4.81 lakh units due to stronger sales than new supply. According to statistics from real estate analytics company PropEquity, the number of unsold housing units decreased to 4,81,566 at the end of March this year from 5,18,868 at the end of December 2023 across nine major cities.
The number of unsold housing stocks in Thane decreased by 5% to 1,06,565 from 1,12,397 units.
In Bengaluru, the number of unsold housing units has decreased by 5%, from 47,370 to 44,837. The amount of unsold inventory in Hyderabad decreased by 4%, from 1,14,861 units to 1,10,425 units.
Housing stocks that were unsold in Kolkata decreased by 2%, from 23,745 units to 23,249 units. The number of unsold residences in the Chennai market decreased marginally by 1% to 20,959 units this quarter from 21,142 units at the end of December of previous year, according to the statistics.
PropEquity, a real estate data and analytics platform available online that covers over 1,50,000 projects from 45,000 developers in 44 locations, is owned and operated by P E Analytics.
Mumbai, Navi Mumbai, Thane, Bengaluru, Hyderabad, Pune, Chennai, Kolkata, and Delhi-NCR (Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, and Faridabad) are some of these cities. Managing Director (MD) and founder of PropEquity Samir Jasuja stated that “sales are surpassing the new launches which is a positive indicator for the market” and that as a result, unsold housing stocks have decreased.
Based on the available statistics, Pune experienced a maximum 13% decrease in unsold housing stocks, going from 75,521 units at the end of December 2023 to 65,788 units at the end of this month. PropEquity reports that the unsold stock in Mumbai decreased by 11%, from 54,633 units to 48,399 units.
