The Euronext futures exchange launched the Paris home price futures contracts (symbol PRE) on Thursday June 6th. The Sept 2019 contract has been the only quoted contract (at about a 1% bid/ask spread) and it doesn't appear that there have been any trades.
I've posted a document to the Resources section (on the lower left under International headline) to address expected FAQs about this contract. The document contains links to: contract specs, index calculation, trading volume and open interest, and a list of market makers.
A key difference in this contract is that the geographic reference area is much smaller than what you see in Case Shiller indices. Recall that since the Case Shiller repeat-sales methodology requires having a sufficiently large geographic area to have a "necessary" number of repeat sales. As such the NYM region covers parts of three states. This creates basis risk such that the NYM Case Shiller may not be highly correlated with the price of any one home.
I've not yet been involved in submitting any quotes (but would like to). A contact at Interactive Brokers told me that they would provide access if/when there was liquidity in the contracts. I'll offer a $100 reward to the first person who can provide me with the contact information for a futures brokerage firm that allows me (and hopefully other US residents) to trade these Paris contracts.
I'm hoping that these contracts get traction as anything that expands discussion of hedging home price risk, will likely help foster greater interest in the CME home price contracts.
Meantime, here's a graph of the Paris home price index and the Case Shiller 10-city index (with both axes on the same scale). Paris didn't experience the sell-off US home prices did from 2008-12, but instead had a slow period of sell-off during 2013-2015. Since 2017 the YOY change in the Paris home price index has generally outpaced gains in the US, and the two markets appear to be more correlated.
Feel free to contact me if you have any questions or insights on either the Paris index, or the Euronext futures.
Thanks, John