NCR’s housing market showed a mixed but relatively balanced performance in Q2 2026, finds ANAROCK Research’s quarterly residential real estate report. Fresh launches declined sharply across the region, but housing sales saw a much milder fall and available inventory remained largely flat, highlighting a market where demand has held up better than supply.

Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “NCR saw a notable divergence between launches and sales in Q2 2026. Total launches across the region fell 40% annually to 11,205 units from 18,760 units in Q2 2025, with Noida and Greater Noida seeing the steepest drop at 72%. Yet, total housing sales declined only 6% to 13,365 units, suggesting that underlying demand remains comparatively resilient despite weaker supply additions.”

Gurugram continued to dominate NCR’s residential activity in Q2 2026. The city recorded the highest new launches at 5,200 units and the highest housing sales at 5,435 units, even though both were lower than last year by 8% and 4%, respectively. In contrast, Noida and Greater Noida saw both supply and sales come under sharper pressure, while Ghaziabad also posted substantial declines on both fronts.

In terms of inventory, NCR stands apart from the other top 7 cities in Q2 2026. Total available stock in the region remained virtually unchanged at 89,086 units at Q2 2026-end, compared to 89,005 units a year earlier. Within this, Ghaziabad shed the maximum stock with a 27% annual decline, while Noida and Greater Noida and the Faridabad-Delhi-Bhiwadi cluster also reduced their available inventory by 3% and 12%, respectively.

“Demand was clearly stronger than launches in NCR,” says Santhosh Kumar. “The region added 11,205 units in the quarter but sold 13,365 units, indicating that housing sales outpaced new supply additions in Q2 2026. This points to healthier market absorption even in a slower launch environment.

Noida-Greater Noida saw the sharpest correction – the micro-market recorded a 72% drop in new launches and a 20% fall in sales, making it the most notable pressure point in NCR during the quarter.

NCR is the only top 7 market with stable stock. While other major cities saw inventory rise, NCR maintained near status quo in available stock at just over 89,000 units. This makes it the most stable inventory market among the top 7 cities.