The residential real estate market is poised for another peak in 2024, despite the backdrop of the General Elections. With most regulatory reforms already in place and optimistic GDP growth forecasts by international organizations like the IMF, the stage is set for robust growth. Historical data from election years, such as 2014 and 2019, indicates an uptrend in housing sales, driven by increased buyer confidence post-elections.

Notably, in 2014, approximately 3.45 lakh units were sold, while 2019 saw 2.61 lakh units sold across India's top 7 cities. This trend is attributed to the clarity and decisiveness brought by election outcomes, encouraging homebuyers to make confident decisions. 

Comparing price trends, 2014 emerged as a stronger year, with a notable 6% annual increase in average prices in the top 7 cities, as per data from Anarock.

Despite challenges such as policy reforms and the NBFC crisis between 2016 and 2019, the sector has shown resilience, especially post-2020 pandemic disruptions. With all signs pointing towards a favorable outlook for 2024, the residential market is poised for another peak in housing sales and new launches. 

For those interested in navigating this dynamic market, Real Broker stands ready to offer comprehensive support and guidance.