Housing inventory: Unsold homes rise 4% across top cities; new supply continues to outpace demand

Unsold housing inventory across India’s top seven cities increased by 4 per cent last year, as the supply of new homes continued to exceed buyer demand, according to data released by real estate consultant Anarock.The total number of unsold residential units in the primary market stood at 5,76,617 at the end of 2025, compared with 5,53,073 units a year earlier. Anarock said the rise was mainly driven by slower sales momentum and higher additions to new supply during the year.“Annually, unsold inventory in the top seven cities rose 4 per cent by 2025-end, largely because of tapered demand and increased new supply in the year,” Anarock said, explaining the trend.Housing sales across these major urban markets declined sharply over the year. As per the data, home sales fell 14 per cent year-on-year to 3,95,625 units in 2025. In contrast, the launch of new homes edged up by 2 per cent to 4,19,170 units, widening the gap between supply and absorption.City-wise data showed a mixed picture. Unsold inventory declined in the Mumbai Metropolitan Region (MMR) and Hyderabad, while other key cities saw a build-up in stock.In Delhi-NCR, unsold housing stock rose 5 per cent to 90,455 units at the end of 2025, up from 85,901 units in the previous year. Bengaluru recorded one of the sharpest increases, with unsold homes jumping 23 per cent to 64,863 units from 52,807 units.Pune also saw a rise, with inventory increasing 3 per cent to 83,491 units from 80,672 units a year earlier. Chennai posted an 18 per cent rise in unsold units, which stood at 33,434 at the end of last year compared with 28,423 units at the end of 2024.Kolkata’s unsold housing stock grew by 9 per cent to 29,007 units from 26,542 units over the same period, the data showed.On the other hand, the Mumbai Metropolitan Region saw a marginal improvement. Unsold homes in MMR dipped by 1 per cent to 1,79,228 units at the end of 2025, down from 1,80,964 units a year earlier. Hyderabad also recorded a small decline, with unsold inventory falling 2 per cent to 96,140 units from 97,765 units.Looking ahead, Anarock said the outlook for housing demand could improve if borrowing costs soften. The consultant noted that lower interest rates on home loans could help revive buyer interest, provided residential property prices remain within reasonable limits.The data suggests that while select markets are beginning to see some easing in inventory, overall pressure on unsold stock remains, largely due to the imbalance between new launches and actual sales, as per PTI.