【Global Property Guide】Q1 2020: Global housing markets remained vibrant on the eve of the pandemic, especially in Europe and the US, but outlook is now uncertain

• Global housing markets remained strong during the year to March, especially in Europe. Real house prices (i.e., prices adjusted for inflation) rose in 29 out of the 50 world's housing markets which have so far published housing statistics.
• The more upbeat nominal figures, more familiar to the public, showed house price rises in 38 countries, and declines in only 12 countries.
• Strong house price surges were taking place in European countries whose house prices previously lagged, such as Germany and Portugal.
• After seven years of strong house price growth, the U.S. housing market remained surprisingly vibrant. The S&P/Case-Shiller seasonally-adjusted national home price index rose by 2.77% during the year to Q1 2020 (inflation-adjusted), an improvement from the previous year’s 1.78% growth. The Federal Housing Finance Agency’s seasonally-adjusted purchase-only U.S. house price index rose by 3.52% y-o-y in Q1 2020 (inflation-adjusted), at par with the previous year’s 3.63% growth.
• Twenty-five of the 50 surveyed housing markets showed stronger momentum in Q1 2020 compared to the previous year..

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