Inventory of homes to take nearly 3 years to clear

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Published: May 3, 2016 5:11:38 AM

Residential new launches and sales volume contracted in the quarter ended December last year, which led to piling up of unsold inventory levels in most major cities

Residential new launches and sales volume contracted in the quarter ended December last year, which led to piling up of unsold inventory levels in most major cities. At the current pace of buying, it will take nearly three years to exhaust the inventory. While the market has witnessed some price correction in the last few quarters, buyers are still waiting for real estate prices to fall further and banks transmit the benefits of RBI’s rate cuts to the consumers. Analysts say while the speculators are completely out of the market, the long-term investors are not coming in because their previous investments are stuck and end user are cautious and waiting for prices to come down and the economy to improve.

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