Housing sales fell by 1 per cent to 49,945 units in April-June 2018 in nine major cities compared with the year-ago period, according to data analytics firm PropEquity.
The launches fell by 25 per cent to 35,211 units during the second quarter of 2018 calendar year, leading to 9 per cent drop in unsold housing stock to 6.16 lakh units.
"Real estate housing market across India continues to stabilise with developers in this quarter clearing their older inventories and launching several new projects. This trend is expected to continue in the following quarters with new launches to further pick up in 2018," said Samir Jasuja, founder and CEO at PropEquity.
The increase in the carpet area in the affordable category is expected to also give a boost to this residential market segment which has already seen good traction, he added.
In Bengaluru, housing sales dipped by 1 per cent to 8,365 units. Gurgaon witnessed 48 per cent fall to 1,652 units, while Noida saw a decline of 36 per cent to 671 units.
In Hyderabad, sales dipped by 24 per cent to 3,830 units while Mumbai saw a decline of 11 per cent to 4,868 units.
The demand for ready to move in properties or near completion projects has witnessed an increase.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)