Real estate: the worst is behind us, according to SeLoger

"It seems that the worst is behind us, both in terms of activity and prices," insisted Thomas Lefebvre, scientific vice-president of the group, who presented his analysis of the real estate market and his forecasts for 2025 on Tuesday.

2024 marks the end of three consecutive years of sharp decline in transaction volumes, which have been stabilizing since this summer with an anticipation of 771.000 sales by the end of the year.

"We really reached a low point in May 2024, but since then we have started to regain ground. The months of May, but especially June, July and August were better in 2024 than in 2023," explained Pierre Vidal, research director at SeLoger.

If the price decline continues in 2024, it shows signs of slowing down, with an annual decline of 1,3% in September compared to -3% in April. A lull observed in the vast majority of cities in France.

At the same time, the increase in income continued, at +3,5% between December 2023 and September 2024 after an increase of 14,18% between January 2022 and December 2023.

Mortgage rates fell by 0,4 points in September to 3,8% over 20 years.

SeLoger-Meilleurs Agents also noted a strong rebound in demand at the start of the year (+22% between January and spring 2024), comparable to 2021 and the end of the Covid crisis (+27%), and a stabilization in the supply of properties for sale, after three years of growth.

So many positive indicators which "suggest new perspectives for the real estate market", underlines Thomas Lefebvre.

The real estate valuation site thus predicts that the market recovery usually observed in the spring should be stronger in 2025, thanks in particular to the continued fall in interest rates and the rise in income, and anticipates 900.000 transactions next year and a slight increase in prices of 2%.

A figure which remains, however, below the million annual sales reached before the real estate crisis.

Illustrative image of the article via Depositphotos.com.