Real Estate: Key Figures for July

The iad and LPI real estate agencies have unveiled the trends and key findings from the July 2023 real estate price index.

According to Michel Mouillart, Professor of Economics, FRICS, and spokesperson for the LPI Barometer, “the existing-home market is sinking into recession, with sales down 10.6% year-over-year. However, the price trend for existing homes has reversed, and contract prices have risen by 0.7% over the past three months. In contrast, price pressures on new homes are easing, with prices now down 0.8%."

Following a 2022 that had already seen a 9.2% decline in sales to individual consumers, the market downturn continues. Sales in the first half of the year were 10.6% lower than in 2022 and 27.2% below the level of the first half of 2019, before the Banque de France implemented credit rationing. Moreover, while sales typically rise by 8.6% between May and June, this year they have fallen by 22.2%.

Here are the key figures

€3,375 per square meter for existing homes in France

A 6.6% negotiationmargin in the existing-home market, across all property types, indicating a spring uptick in existing home prices

+0.7% in signed prices per square meter. The trend in France’s existing-home market over the past three months shows a slowdown in new-home prices

-21.5% for in trading volume . Change on a rolling quarterly basis

Price increases in the resale housing market appear to be leveling off in most major cities.