The crisis hurts real estate nine. Between August and October, just under 16 300 homes were sold, against 29 152 a year earlier. A decrease of 44%, revealed Tuesday the Department of Ecology. The volume of sales is also strongly declining trend. From fourth quarter 2007 to third quarter 2008, the number of sales amounts to 93 000, down 29.2% over the previous four quarters. Thus, the number of new homes for sale continues to rise, calls for sales and reservation cancellations were higher than the sales, "said the ministry. At 30 September 2008, no fewer than 113 404 homes were for sale, a number that had never been reached since the beginning of the investigation, "said Department of Ecology.
The deadline for the disposal of goods has doubled in a year, rising an average 9 to 18 months.
Decline in building permits in yard
The number of building permits is also strongly declining trend: -24.4% between August and October, 110 204 units. "There is no trace of a decline of such magnitude, even in the early 90s," says Michel Mouillart, professor of economics at Paris X Nanterre.
As for starts, between November 2007 and October 2008 are down 14.3%, to 378 158 units. Building permits are, themselves, down 24.4% to 459 251 units. For 2008, the number of housing starts should rise to 365 000, against 435 000 in 2007, a decrease of 16%. And the year 2009 should be in "bottomed out" with a figure between 325 000 and 330, 000, prognostic Michel Mouillart. Yet the government intended to build 500 000 new housing units per year to meet housing demand.
The deadline for the disposal of goods has doubled in a year, rising an average 9 to 18 months.
Decline in building permits in yard
The number of building permits is also strongly declining trend: -24.4% between August and October, 110 204 units. "There is no trace of a decline of such magnitude, even in the early 90s," says Michel Mouillart, professor of economics at Paris X Nanterre.
As for starts, between November 2007 and October 2008 are down 14.3%, to 378 158 units. Building permits are, themselves, down 24.4% to 459 251 units. For 2008, the number of housing starts should rise to 365 000, against 435 000 in 2007, a decrease of 16%. And the year 2009 should be in "bottomed out" with a figure between 325 000 and 330, 000, prognostic Michel Mouillart. Yet the government intended to build 500 000 new housing units per year to meet housing demand.
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