Home Sales Hit Three-Year Low Amid Diverging Trends in Luxury and Affordable Markets

Home sales in the June quarter have plummeted to their lowest level in three years, reflecting a challenging market environment. This downturn comes as luxury home sales have surprisingly increased by 9% year-on-year, indicating a robust demand among affluent buyers. In stark contrast, the affordable housing segment has seen a significant decline, with sales dropping by 21% in the fourth quarter of FY26. This divergence in market performance suggests a growing polarization in buyer sentiment, as evidenced by an adjusted sentiment score of 46, which reflects a neutral outlook on the overall housing market. The topic coverage also remains steady at 59, indicating consistent attention from analysts and investors alike. As the market grapples with these contrasting trends, the recent rate of change in sales, at approximately 8.4%, underscores the evolving dynamics that could influence future real estate strategies.