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Home sales across seven major Indian city markets rose 3% year over year to 100,220 units in Q3 2026, while available inventory increased 12% to about 6.31 lakh units. The headline is a mixed one: Hyderabad led annual sales growth, Bengaluru also expanded, and Mumbai Metropolitan Region (MMR) sold the most homes. But sales fell in four of the seven markets, and launches grew faster than sales.
How can home sales rise while available inventory also grows?
Sales and inventory measure different things. Sales count homes bought during the quarter; available inventory is the stock available at quarter-end under the definition used in the reporting. More homes can sell even as the available stock grows if new supply entering the market exceeds the units sold.
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That is what the Q3 2026 aggregate figures indicate: ANAROCK data reported by ETRealty puts new launches at about 1,14,320 units, up 18% from 96,690 a year earlier, against sales growth of 3%. Available inventory was about 6.31 lakh units at quarter-end, versus 5.62 lakh a year earlier. This inventory figure should not be read as all unsold housing or as ready-to-move stock.
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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesThe figures show expanding supply alongside modestly higher sales. On their own, they do not establish that prices will fall, that the market is distressed, or that every city has excess supply. Outcomes can differ by location, project and price band.
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What do the seven-city totals say?
| Measure | Q3 2026 | Comparison |
|---|---|---|
| Homes sold | 100,220 | 97,080 in Q3 2025; up 3% year over year |
| Value of homes sold | About ₹1.55 lakh crore | ₹1.52 lakh crore a year earlier; up 2% |
| New launches | About 1,14,320 units | 96,690 a year earlier; up 18% |
| Available inventory at quarter-end | About 6.31 lakh units | 5.62 lakh a year earlier; up 12% |
These are ANAROCK figures for seven major city markets as reported by ETRealty. The Q3 reporting does not provide the original dataset or enough methodological detail to independently validate the counts.
Which cities led sales, and which grew fastest?
“Led” depends on the measure. MMR was the largest market by sales volume; Hyderabad had the fastest year-over-year growth. Bengaluru ranked second in both sales volume and annual growth among the growing markets.
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| Market | Q3 2026 sales | Year-over-year sales change | Launch context |
|---|---|---|---|
| MMR | About 31,750 | +5% | About 37,500 launches, up 27% |
| Bengaluru | About 16,670 | +12% | About 17,720 launches, up 17% |
| Pune | About 15,690 | −6% | About 18,730 launches |
| NCR | About 13,765 | −1% | About 10,900 launches |
| Hyderabad | About 12,970 | +15% | About 18,950 launches, up 120% |
| Chennai | About 5,395 | −10% | Not stated in the detailed source excerpt (ETRealty and Hindustan Times) |
| Kolkata | About 3,980 | −4% | Not stated in the detailed source excerpt (ETRealty and Hindustan Times) |
Sales counts and annual changes were reported by Business Standard/PTI and Hindustan Times; launch details were reported by ETRealty and Hindustan Times. MMR and Bengaluru together accounted for 48% of seven-city sales. Four markets—Pune, NCR, Chennai and Kolkata—recorded annual sales declines, so the 3% overall rise was not a uniform recovery.
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Hindustan Times reported that sales rose quarter over quarter by 11% in MMR, 9% in Bengaluru and 15% in Hyderabad. Pune rose 20% quarter over quarter even though it was down 6% year over year. These comparisons use different periods and are not contradictory: a market can improve from the previous quarter while remaining below the same quarter a year earlier.
What does the launch mix add to the picture?
Launch activity was concentrated: MMR, Pune, Bengaluru and Hyderabad together accounted for 81% of new launches. Hyderabad’s approximately 18,950 launches represented a 120% year-over-year jump, while MMR had the largest launch count at about 37,500. A launch surge measures new supply entering the market, not completed homes or units sold.
By price band, homes priced ₹80 lakh to ₹1.5 crore formed the largest share of launches at 34%, followed by homes priced ₹1.5 crore to ₹2.5 crore at 24%. These are shares of launches across the reported markets; they do not establish affordability for an individual household or the price mix in a specific locality.
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What happened to prices?
ANAROCK data reported by Hindustan Times put average residential prices across the seven cities 7% higher year over year. NCR recorded a 12% increase and Bengaluru 8%. These broad market averages are not valuations for a particular home, project or neighborhood, and they should not be treated as a forecast of future appreciation.
How should buyers interpret the market figures?
The aggregate does not identify a best city to buy in or guarantee an investment return. A buyer’s decision still depends on the particular property, total cost, location, financing and personal plans. The reported city-level figures are useful context, but they do not replace project-level checks.
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- Separate market scale from momentum: MMR led sales volume, while Hyderabad led annual growth.
- Read launches and inventory alongside sales; rising transactions do not mean supply is shrinking.
- Check the comparison period. Annual changes and quarter-on-quarter changes can point in different directions.
- Treat citywide price averages as context, not as a quote for a property you are considering.
ANAROCK chairman Anuj Puri said the upcoming festive season was expected to boost residential demand, building on September-quarter momentum. That is an attributed outlook, not a confirmed Q4 result.
Why do published sales totals differ?
Business Standard also reported a PropEquity estimate of 103,000 sales across nine cities for the September quarter, down 6%. That is a different provider’s count for a different number of cities from ANAROCK’s 100,220 figure for seven markets. The available reporting does not provide enough methodological detail to reconcile the two series; they should not be compared as if they covered the same markets under the same definitions.
ANAROCK’s earlier Q1 2026 report put available inventory in its top-seven markets at about 6,01,200 units at quarter-end, up 7% year over year, and estimated an inventory overhang of about 18 months. It described overhang in relation to inventory and sales pace. That is Q1 context, not a Q3 overhang measure, and should not be combined with the Q3 inventory count as though it were calculated on the same date.
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