If the real estate recovery is there, it will still take several months for the market to fully recover and sustainably absorb the economic changes initiated in the first half of 2024 (control of inflation, reduction in key rates, loosening of credit conditions, etc.). In large metropolises, price developments are heterogeneous. If they increase in Lille (+0.6%), Nice (+0.5%), Bordeaux (+0.4%), Nantes (+0.3%) and Marseille (+0.2%), in 5 of the 11 largest French cities, prices are still falling in October: -0.9% in Strasbourg, -0.8% in Rennes, -0.4% in Paris, -0.3% in Montpellier and -0.2% in Lyon. A decline in sales prices which is expected to continue in November and Decemberor even accelerate if the seasonal effect combines with a certain wait-and-see attitude on the part of buyers. Indeed, the latter could be tempted to postpone their purchase project for a few months in the hope of benefiting from an additional reduction in the interest rates on real estate loans, expected in 2025 following the last reduction in key interest rates. the ECB.
