Visual Capitalist’s Dorothy Neufeld shows the change in residential property prices with data from the Bank for International Settlements (BIS).
Global housing prices rose an average of 6% annually, between Q4 2021 and Q4 2022.
In real terms that take inflation into account, prices actually fell 2% for the first decline in 12 years. Despite a surge in interest rates and mortgage costs, housing markets were noticeably stable. Real prices remain 7% above pre-pandemic levels.
The first drawing shows the nominal growth in housing prices.
The second shows those prices taking inflation into account.
It shows that the USA’s housing prices grew at the same rate as our inflation. You can blame politicians for printing money for that.
