Unsold housing stock falls 12% in last 5 yrs to 627,000 units: Anarock
With a significant rise in housing sales post-COVID, real estate consultant Anarock has said unsold homes with developers across seven major cities fell 12 pc in the last five years, and time needed to clear these inventories have come down by half to just 20 months.
In its latest report, Anarock said unsold housing stocks have declined 12 per cent to 6,26,750 units at the end of January-March this year from 7,13,400 units as of March 31, 2018.
More importantly, Anarock said, inventory overhang (estimated time developers need to clear unsold inventories at current sales velocity) fell to 20 months from 42 months at the end of March 2018.
An inventory overhang of 18-24 months is normally considered healthy.
Anarock Chairman Anuj Puri attributed the drop in unsold stocks and inventory overhang to a surge in housing sales.
In Q1 of 2023, the top 7 cities recorded all-time high sales of more than 1.14 lakh units.
"Strong home-ownership sentiment, relatively lower home loan rates, str