For one, many owners stay “locked in” at ultra-low mortgage rates, unwilling to exchange for the next price in a high-priced housing market. Consequently, demand continues to outpace housing supply—and likely will for the rest of this yr. The stock overhang in India’s residential real estate market has decreased to 22 months in the June quarter, down from 34 months last 12 months. Despite a moderation in provide and absorption rates, unsold inventory declined by 2% year-on-year, indicating wholesome demand dynamics throughout key markets. Meanwhile, owners who would normally promote their homes to downsize or move up have a stronger…
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