India’s residential real estate market is showing signs of moderation, with home sales remaining largely flat during the first nine months of 2026, even as developers continued to add new supply. According to Knight Frank India data cited by India Today, 2,58,238 homes were sold across eight major cities between January and September, almost unchanged from the previous year.
New launches, however, increased 4% year-on-year to 2,79,899 units. New supply has exceeded sales for the 16th consecutive quarter, while the average time required to sell a home increased to 6.1 quarters from 5.8 quarters a year earlier. This indicates that inventory pressure is gradually building in parts of the market.
Delhi-NCR recorded the sharpest decline, with sales falling 11% to 35,574 units. In contrast, Mumbai recorded 72,804 sales, up 1%, while Bengaluru saw a stronger 5% increase.
The slowdown is more visible in affordable housing. Sales of homes priced below ₹50 lakh declined 14%, while the ₹50 lakh–₹1 crore segment fell 5.9%. Premium housing continued to perform better, with sales of ₹2–5 crore homes rising 19.4%.
Despite slower sales, prices continued to rise across the tracked markets. The upcoming festive season and the RBI’s October policy could therefore play an important role in determining the housing market’s next phase.
