SeLoger reports a 22% surge in new listings in 2025 and an 8% rise in stock as rates stabilise around 3.5%. The French real estate market is regaining fluidity—what buyers and sellers need to know.
After years of imbalance, signs are mounting that the French real estate market is moving back toward normality. Analysis by SeLoger shows a sharp rebound in new listings during 2025 and into early 2026: new advertisements rose 22%—a level not seen since 2021—while the overall stock of properties for sale increased by 8%. Taken together with stabilising mortgage rates near 3.5%, these developments are restoring fluidity to a market long affected by rate shocks and cautious sellers.
A short history of the imbalance
The market’s current momentum must be read against its recent history. In 2021, historically low interest rates fueled exceptionally strong demand and a shortage of properties for sale. Transactions peaked at roughly 1.2 million that year, prices rose quickly, and competition among buyers was intense.
But the abrupt rise in borrowing costs from 2022 onward changed everything. As rates climbed toward 4%, household purchasing power fell sharply. Demand retreated (-7% in 2022–2023 and a further -10% into 2024), supply accumulated, and transaction volumes dropped to about 932,000 in 2023.
2024: a pause, not a restart
Last year was a transitional phase. Prices eased gradually and credit conditions began to improve, prompting demand to recover by about 14% versus 2023. The stock of properties stopped ballooning, but new listings remained muted—sellers were reluctant to relist and many buyers stayed cautious. The market stabilised, but it was not yet fluid.
2025: the offer renews and sellers return
That changed in 2025. With mortgage rates stabilising around 3.5%, buyers regained confidence and demand rose to levels above the 2021 average. Crucially, the supply increase seen in 2025 was not just an accumulation of unsold homes: it was driven by a strong renewal of the offer. New listings jumped 22%, indicating sellers—and notably second-time buyers—were returning to the market. Price growth also moderated (+1.3% year-on-year), reducing fears of selling at a loss and supporting resale-linked purchases.
Regional picture: most cities and departments follow suit
The renewal of supply is not limited to a few hotspots. Most large cities now show a faster growth in new listings than in total stock, suggesting properties put up for sale are finding buyers more quickly. Paris, Rennes, Bordeaux and Toulouse illustrate this trend. Montpellier is an outlier in that its renewal began earlier, in 2023, which helped avoid a stockpile there. Beyond cities, the majority of French departments display similar dynamics, with some areas showing particularly strong increases in new advertisements.
Outlook for 2026: cautious optimism
Entering 2026, market fundamentals look more balanced: healthier demand, more abundant and better-renewed supply, and clearer visibility on interest rates. These conditions could produce a more active “real estate spring.” However, prices and activity will hinge on whether supply growth keeps pace with demand and on future credit conditions and broader economic or political developments.
What buyers and sellers should watch
• Interest rates: stability or further declines will sustain demand; any renewed rate pressure could slow momentum.
• New listings vs. stock: continued strong inflows of fresh listings would improve choice for buyers and reduce the urgency-driven competition of past years.
• Regional shifts: local markets can diverge—follow city and departmental trends rather than national averages alone.Bottom line
SeLoger’s data suggests the long phase of shortage and stalled activity may be giving way to a more balanced French housing market. The return of sellers and a surge in new listings in 2025 have restored choice and momentum. Still, the picture is not settled: the coming months will determine whether this renewal becomes a lasting recovery or a temporary easing of earlier tensions.
