Housing sales fall 9% in December quarter amid economic slowdown

Sales and new launches fell further on a low base

The plight of real estate developer and suppliers is far from the end. Despite government’s recent measures to revive the sector by injecting liquidity into the system and easing norms for unfinished projects, both sale and new launches plunged further in October-December quarter.

Data from PropEquity show, while sales fell 9 per cent year on year to 60,453 units, new launches declined 10 per cent to 44,459 units. The fall is staggering, if compared to the number for corresponding quarters a few years ago, as the market has witnessed steady decline in both sales and new launches in the past four