Housing sales fell 6 per cent to 1.03 lakh units in the July-September quarter across nine major cities, mainly due to subdued demand and lower fresh supply of homes, according to PropEquity.
Global economic uncertainties also contributed to muted buying sentiments.
Real estate data analytics firm PropEquity tracks primary residential markets in nine major cities — Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata.
Housing sales in these nine cities fell to 1,03,170 units in July-September from 1,09,420 units in the year-ago period, according to data.
New supply fell to 98,165 units from 1,00,330 units during the period under review.
Housing sales generally are slow during the July-September quarter because of monsoon rains, discouraging real estate developers from launching projects.
Sales improve in the December quarter on account of festive demand. To cash in on this demand, developers increase fresh supply and also offer many incentives t
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