The housing sector is suffering as it has probably never suffered before. The latest figures from developers are chilling, with a 42.4% drop in new collective housing sales between the second quarter of last year and this year. The other indicators are just as gloomy, with a drop in reservations and an increase in cancellations. Stocks are swelling and professionals are obviously not launching new programs in this conjunction of stars. Individual homes are doing even worse, with a level of sales at the end of June 72% below the long-term average.
In the old sector, despite falling prices, the current year should end with around 800,000 transactions, down 20% compared to 2023. The queues of potential tenants are getting longer, both to obtain a private rental and to obtain social housing. The consequences for the fabric of companies operating in the sector, from upstream – construction – to downstream – real estate agencies and related services, such as moving or furnishing – are terrible, with an explosion in bankruptcies and mass layoffs, or even sales agents forced to change sectors.
The Great Evening of Housing Policy May Not Be For TomorrowIn this terrible context, the actors were waiting for the Prime Minister like the messiah. The resigning government could only deal with current affairs (…)
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