During the first quarter of 2026, India's top seven housing markets saw muted growth in average prices, rising only 2% from the previous quarter to reach ₹9,456 per square foot. This stagnation is largely attributed to declining sales, which fell 7% in volume and 6% in value, driven by negative consumer sentiment stemming from the ongoing conflict in Iran. On an annual basis, prices have increased by 7% from ₹8,868 per square foot in the same period last year. Notably, the average price in Delhi-NCR rose 3% to ₹9,620, while MMR experienced a 1% increase to ₹17,600. Other cities like Bengaluru, Pune, and Hyderabad also reported modest gains of 2%. Anarock Chairman Anuj Puri highlighted that the uncertainty caused by the Iran conflict has led to a pause in investments from prospective buyers, particularly from the Middle East. Despite the current challenges, the long-term outlook for India's housing market remains optimistic, with sales increasing 9% year-on-year to 101,675 units, although they fell from the previous quarter's 108,970 units.