The French real estate market in the first half of 2026 shows almost stable prices, with a national increase of only 0.1% according to the SeLoger / Meilleurs Agents barometer. This figure masks very different local realities and a profound transformation of practices: the dematerialization of transactions, the rise of online purchasing journeys, and the evolution of credit rates are reshaping a market that can no longer be reduced to mere sales volumes.
Dematerialization of real estate transactions: what the volume figures do not show
The SERP reports focus on prices per square meter and the number of transactions. They overlook a structural change: the generalization of 100% dematerialized journeys in the French real estate sector.
The Higher Council of Notaries confirms that the share of acts signed remotely (via videoconference and electronic signature) remains sustainably high since the peak during the Covid period. This proportion continues to rise in 2025-2026, driven by demand from both individuals and professionals.
In practical terms, the search, negotiation, signing, and post-transaction follow-up can now take place entirely through digital platforms. The listings published on the Immobilier Hebdo online site illustrate this trend: buyers consult, compare, and make contact without visiting a physical agency.
This evolution also changes the profile of buyers. First-time buyers, accustomed to digital interfaces, prefer platforms that offer automated estimates, virtual tours, and online file tracking. The online real estate market is no longer a secondary channel; it is the primary entry point.
Real estate prices by city: the gap table for the first half of 2026
The national average of +0.1% says nothing about the ground reality. The gap between the most dynamic cities and those in decline reaches nearly ten points for apartments, and even more for houses.
| City | Apartments (annual variation) | Houses (annual variation) |
|---|---|---|
| Toulouse | +1.3% | – |
| Marseille | +0.8% | – |
| Nice | – | +1% |
| Perpignan | -7.4% | – |
| Bordeaux | – | -8.3% |
Toulouse and Marseille show modest increases for apartments. Nice holds steady in the house segment. In contrast, Perpignan and Bordeaux are experiencing severe corrections, at -7.4% and -8.3%, respectively.
This dispersion makes any national analysis ineffective for a buyer or investor. Aggregated price indices, such as those published by notaries or Insee, are no longer sufficient to guide a purchasing decision. One must look at the city level, or even the neighborhood.
Mortgage rates in May 2026: the variable that hinders recovery
Financing is becoming the determining factor again. In May 2026, the average mortgage rate reaches 3.25%, with 3.34% for 20 years and 3.37% for 25 years. These levels remain significantly higher than those of the 2020-2021 period, when borrowers obtained conditions below 1.5%.
For a household borrowing over 20 years, the difference translates into several hundred euros more in monthly payments compared to four years ago. This additional cost mechanically reduces purchasing power and explains why the recovery in transactions remains fragile despite price stabilization.
Banks, for their part, apply strict lending criteria. The usury rate limits negotiation margins. Three parameters weigh on borrowing capacity:
- The nominal interest rate of the loan, which determines the total cost of credit over the chosen duration
- The required personal contribution, which has become a discriminating criterion after years of financing at 110%
- The debt ratio capped at one-third of net income, which limits the amount that can be borrowed even for solvent profiles
The credit environment directly conditions the number of transactions. Without a significant drop in rates, the annual sales volume will remain below pre-2022 correction levels.
Real estate transactions and the old market: a variable recovery
Foncia’s data indicates 8% more transactions in the first half compared to the same period in 2024. The sold areas are also increasing, with a notable rise in Île-de-France. The average selling times stabilize around three months.
These positive signals deserve nuance. The increase in transaction volume does not uniformly affect the territory. Some regions benefit from a catch-up effect after two years of stagnation, while others see buyers continue to wait.
In the old market, price stability (slight increase of about 1% over the semester according to Foncia) has acted as a trigger. Sellers are accepting more realistic price levels, which facilitates negotiations. Buyers, in turn, regain some visibility on short-term developments.
- The number of requests is increasing in medium-sized metropolitan areas, where prices remain accessible
- Renovated properties or those with low energy consumption sell faster than energy-inefficient homes
- Properties located in tight areas continue to find buyers despite high rates
The old real estate market remains the main driver of activity. New properties, hindered by high construction costs and a decline in new builds, do not compensate for the slowdown observed in certain segments.
Online platforms and automated estimation: the new market standard
The rise of online estimation platforms and iBuyer models (nearly immediate purchase offers generated by algorithms) is redistributing roles among individuals, agents, and notaries. These tools, powered by public databases (DVF, Insee) and notarial indices, allow for obtaining a price range in just a few clicks.
The purchasing journey now begins online for the majority of buyers. Listing portals, credit simulators, and estimation tools serve as the first filter before any physical visit. This digitalization accelerates decision cycles and reduces the information asymmetry between sellers and buyers.
The price correction observed since 2022 seems to be absorbed at the national level, but local disparities remain pronounced. Credit, at 3.25% on average, remains the main obstacle to a robust recovery. The online real estate market, however, is establishing itself as the dominant channel for searching, comparing, and purchasing property in France.