Would now be a good time to buy real estate? Although several arguments still counterbalance this idea, the fall in real estate prices since 2023 has been accentuated, in a large part of the departments. Discover at the end of the article the 10 departments where the drops in housing prices are the strongest this year.
According to the National Real Estate Federation (FNAIM), 2023 was a particularly difficult year for real estate sales. A drop of 22% was recorded, “unprecedented in the last 50 years” we can read on the FNAIM website, for a total of 875,000 sales recorded. A return “7 years ago”. For comparison, a peak of 1,200,000 sales was reached in August 2021 over one year, only to begin a marked fall thereafter.
The reasons for this drop in sales are varied. First of all, the effect of inflation on the purchasing power of households, having caused the French to lose “15% of real estate purchasing power in 2 years”. Furthermore, interest rates have increased at the same time, reaching an average of 4.24% for a mortgage rate in January 2024. Since the start of the year, the curve has reversed slightly and these same rates Interests are coming down, slowly but surely. According to the property-danger site, interest rates (real estate) are estimated at 3.81% in May 2024 (3.69% for a 15-year loan, 3.76% over 20 years and 3.84% for a 25-year loan) is specified.
Despite a continuous drop in interest rates and prices in real estate sales for several months, sales remain complicated, as they are maintained at a price level well above the pre-crisis level. Here are the 10 departments that stand out, with real estate sales prices falling sharply between the months of April 2023 and April 2024. A ranking produced by FNAIM, and listed by Capital, available in our slideshow below:
