Unsold housing stocks across seven major cities have risen by 24% since 2019 due to higher supply, but developers are expected to take 31% less time to sell these units because of strong sales momentum, according to a new report.

The report noted that actively selling unsold housing inventory reached about 4,68,000 units by March 2024 — a 24% increase since December 2019 — across seven major cities.

Despite the rise in inventory, there has been a significant reduction in the estimated time needed to sell these properties. This assessment is based on average sales rates recorded over the past eight quarters.

There has been a 31% drop in the time required to clear active unsold stock. In the first quarter of 2024, the liquidation period fell to 22 months, compared to 32 months at the end of 2019, driven mainly by a sharp surge in housing demand.

The regions covered in the analysis include major metropolitan areas and their surrounding suburbs across the seven key cities.

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