Recent reports have shown that there has been a significant drop down in the number of home loan accounts. In the year 2012-13 the home loan accounts with the commercial banks has dropped down by 2.7%. It was reported that the high real estate prices is one major factor of the drop down.
In 2012, the total number of housing loan accounts with all scheduled commercial banks was 47.78 lakh. In 2013, it came down to 46.43 lakh. Year on year the home loan accounts are decreasing. Almost all states and Union territories have seen a drop in the number of accounts.
Due to the high prices of the property the lower and middle income groups are finding difficult to afford, in turn leading to a drop down in the housing loans.