In a report released by PropEquity, a leading real estate data, research and analytics firm, sales or absorption fell by 7% in a sequential quarter (Q2 vs Q1) as developers across cities focussed on clearing earlier launched inventories.
Sales were also impacted as home loan interest rates increased over the last several quarters impacting affordability. Potential home buyers are also finding deals in their price brackets to be challenging as projects of renowned developers have seen appreciation.
Total units launched across the top 9 tier cities witnessed a drop of 24% on a Q-o-Q basis; however, a growth of 51% was witnessed on Y-o-Y basis.
