In the third quarter of 2025, global real house prices fell by 0.7% year on year (yoy), a rate similar to the previous quarter (–0.8%); this was despite a rise in nominal prices (2%). Real house prices in AEs were almost stable (0.3% yoy), extending the recent period of moderate growth. In EMEs, prices continued to decrease, at a slower rate (–1.5%) compared with the previous quarters. The global decline in real house prices in aggregate terms was driven by a few major economies. In fact, most AEs and EMEs recorded price growth. Despite the continued decrease, global prices remain 20% above their levels observed at the end of the 2007–09 Great Financial Crisis (GFC), and 3% above pre-Covid pandemic levels.

This information was gathered from the Bank for International Settlements