In 2024, Miami was the housing market most at risk, with a real estate bubble index score of ****. Tokyo and Zurich followed close behind with **** and ****, respectively. Any market with an index score of *** or higher was deemed to be a bubble risk zone.

Based on panel error correction models for a sample of up to 21 countries this paper analyses the macroeconomic determinants of house prices and rents. In accordance with the existing literature I find significantly positive effects of per capita income and bank lending on house prices, whereas the housing stock per capita and interest rates have negative effects. For rents the results are somewhat more remarkable, indicating that both the housing stock and interest rates have a negative effect. While contradicting conventional economic theory the latter finding might be explained by real estate investors exploiting their pricing power with varying degree depending on the level of real interest rates. Moreover, the estimated impact of interest rates on both house prices and rents varies with structural housing market characteristics. For instance, while interest rates have a more pronounced effect on house prices in countries with more developed mortgage markets, the same does not hold for the effect of interest rates on rents.

Portugal, Italy, Ireland, Greece, and Spain were widely considered the Eurozone's weakest economies during the Great Recession and subsequent Eurozone debt crisis. These countries were grouped together due to the similarities in their economic crises, with much of them driven by house price bubbles which had inflated over the early 2000s, before bursting in 2007 due to the Global Financial Crisis. Entry into the Euro currency by 2002 had meant that banks could lend to house buyers in these countries at greatly reduced rates of interest.

This reduction in the cost of financing contributed to creating housing bubbles, which were further boosted by pro-cyclical housing policies among many of the countries' governments. In spite of these economies experiencing similar economic problems during the crisis, Italy and Portugal did not experience housing bubbles in the same way in which Greece, Ireland, and Spain did. In the latter countries, their real housing prices (which are adjusted for inflation) peaked in 2007, before quickly declining during the recession. In particular, house prices in Ireland dropped by over 40 percent from their peak in 2007 to 2011.

Graph and download economic data for All-Transactions House Price Index for the United States (USSTHPI) from Q1 1975 to Q1 2025 about appraisers, HPI, housing, price index, indexes, price, and USA.

The nominal price of residential properties in Germany in the fourth quarter of 2024 showed a modest increase of **** percent. This marks a recovery from previous declines, as the annual house price growth had turned negative in the earlier quarters of 2023, where house prices fell by over ** percent. Adjusted for inflation, the decrease was also noted at ***** percent in the fourth quarter of 2024. This trend could be observed across the major German cities.

Abstract (en): The study investigated self-sufficiency, community adjustment, substance use, and criminal recidivism outcomes for substance abusing offenders served through the Washington County (Oregon) Community Corrections Department (WCCC) to document the value-added of providing substance-free transitional housing services. The study addressed the value-added of Oxford House and other transitional housing services to the combination of services offenders receive, and documented the relative costs and benefits of substance-free transitional housing services. Individuals were eligible for the study if they entered Oxford Houses, entered some other form of substance-free transitional housing, or could benefit from, but did not enter, any form of substance-free transitional housing. A total of 356 supervisees were eligible for the study; 301 agreed to participate in baseline interviews, and 238 participated in 12-month follow-up interviews. The study included both interview data collection and administrative records data collection. The research team also collected Housing Data (Part 2) from the housing section of the interviews and Treatment Data (Part 3) from a statewide treatment database. The current study investigated the value-added of providing substance-free transitional housing to offenders within this service rich environment. Specifically, the study investigated self-sufficiency, community adjustment, substance use, and criminal recidivism outcomes for substance abusing offenders served through the Washington County (Oregon) Community Corrections Department (WCCC) to document the value-added of providing substance-free transitional housing services. Specifically, the study addressed the following research questions: What is the value-added of Oxford House and other transitional housing services to the combination of services offenders receive? Does participating in substance-free transitional housing services lead to measurable improvements in self-sufficiency and decreases in substance use and criminal offending?; What are the relative costs and benefits of substance-free transitional housing services to the taxpayer?; The study included both interview data collection and administrative records data collection (Part 1). Interviews were conducted with study participants shortly after the start of their supervision and at 6- and 12-month follow-ups, however only baseline interview data and 12-month interview data are included in Part 1. The research team employed a comprehensive recruitment and tracking strategy that resulted in 301 eligible participants agreeing to participate in baseline interviews, and 238 participating in 12-month follow-up interviews. The interviews were primarily closed-ended, structured interviews that gathered information about living situations, demographics, health, substance use, self-sufficiency indicators (including employment and income information), and psychosocial indicators (including social support and stress). In addition to interview data collection, the study relied upon administrative records, which provided such information as criminal justice history and recidivism, substance abuse treatment entries, and usage of WCCC services. Data were collected for the 12-month period following the start of supervision.The research team also collected Housing Data (Part 2) from the housing section of the interviews and Treatment Data (Part 3) from a statewide treatment database. Part 2 is a 901 case stacked dataset that lists each housing episode for each participant (multiple records per participant). Part 3 is a 243 case stacked dataset that lists each treatment episode for each participant (multiple records per participant). Participants with no treatment episodes are not included in the treatment data. The Interview and Administrative Data (Part 1) contain a total of 603 variables including demographic and background information, employment and life skills information, physical health information, alcohol and drug use, mental health information, readiness to change, social support, social support for recovery, environmental risk, environmental support, service utilization, contact with WCCC, perceived stress, and perceptions of control. Employment and life skills information included questions about educational attainment, employment status, public assistance receipt, and basic life skills (such as having a driver's license or a bank account). Physical health information inc...

Graph and download economic data for Median Sales Price of Houses Sold for the United States (MSPUS) from Q1 1963 to Q1 2025 about sales, median, housing, and USA.

Chinese housing prices rose by over 10 percent per year in real terms between 2003 and 2014 and are now between two and ten times higher than the construction cost of apartments. At the same time, Chinese developers built 100 billion square feet of residential real estate. This boom has been accompanied by a large increase in the number of vacant homes, held by both developers and households. This boom may turn out to be a housing bubble followed by a crash, yet that future is far from certain. The demand for real estate in China is so strong that current prices might be sustainable, especially given the sparse alternative investments for Chinese households, so long as the level of new supply is radically curtailed. Whether that happens depends on the policies of the Chinese government, which must weigh the benefits of price stability against the costs of restricting urban growth.

Global house prices experienced a significant shift in 2022, with advanced economies seeing a notable decline after a prolonged period of growth. The real house price index (adjusted for inflation) for advanced economies peaked at nearly *** index points in early 2022 before falling to around ****** points by the fourth quarter of 2024. This represents a reversal of the upward trend that had characterized the housing market for roughly a decade. Conversely, real house prices in emerging economies resumed growing, after a brief correction in the second half of 2022. What is behind the slowdown? Inflation and slow economic growth have been the primary drivers for the cooling of the housing market. Secondly, the growing gap between incomes and house prices since 2012 has decreased the affordability of homeownership. Last but not least, homebuyers in 2024 faced dramatically higher mortgage interest rates, further contributing to worsening sentiment and declining transactions. Some markets continue to grow While many countries witnessed a deceleration in house price growth in 2022, some markets continued to see substantial increases. Turkey, in particular, stood out with a nominal increase in house prices of over ** percent in the first quarter of 2024. Other countries that recorded a two-digit growth include Russia and the United Arab Emirates. When accounting for inflation, the three countries with the fastest growing residential prices in early 2024 were the United Arab Emirates, Poland, and Bulgaria.

Nahb Housing Market Index in the United States decreased to 32 points in June from 34 points in May of 2025. This dataset provides the latest reported value for - United States Nahb Housing Market Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This repository contains the data used to create the county-level figures in the following paper:

Gourevitch, J.D., Kousky, C., Liao, Y., Nolte, C., Pollack, A.B., Porter, J.R., & Weill, J.A. (2023). Unpriced climate risk and the potential consequences of overvaluation in US housing markets. Nature climate change, 13(3), 250-257.

Abstract:

Climate change impacts threaten the stability of the US housing market. In response to growing concerns that increasing costs of flooding are not fully captured in property values, we quantify the magnitude of unpriced flood risk in the housing market by comparing the empirical and economically efficient prices for properties at risk. We find that residential properties exposed to flood risk are overvalued by $121 – $237 billion, depending on the discount rate. In general, highly overvalued properties are concentrated in counties along the coast with no flood risk disclosure laws and where there is less concern about climate change. Low-income households are disproportionately at risk of losing home equity from price deflation, and municipalities that are heavily reliant on property taxes for revenue are vulnerable to budgetary shortfalls. The consequences of these financial risks will depend on policy choices that influence who bears the costs of climate change.

The U.S. mortgage market has declined notably since 2020 and 2021, mostly due to the effect of higher borrowing costs on refinance mortgages. The value of refinancing mortgage originations, amounted to 190 billion U.S. dollars in the fourth quarter of 2024, down from a peak of 851 billion U.S. dollars in the fourth quarter of 2020. The value of mortgage loans for the purchase of a property recorded milder fluctuations, with a value of 304 billion U.S. dollars in the fourth quarter of 2024. According to the forecast, mortgage lending is expected to slightly increase until the end of 2026. The cost of mortgage borrowing in the U.S. Mortgage interest rates in the U.S. rose dramatically in 2022, peaking in the final quarter of 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under three percent, whereas in 2024, the average rate for the same mortgage type exceeded 6.6 percent. This has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market. The effect of a slower housing market on property prices and rents According to the S&P/Case Shiller U.S. National Home Price Index, housing prices experienced a slight correction in early 2023, as property transactions declined. Nevertheless, the index continued to grow in the following months. On the other hand, residential rents have increased steadily since 2000.

We analyze whether mid-level managers in securitized finance were aware of a large-scale housing bubble and a looming crisis in 2004-2006 using their personal home transaction data. We find that the average person in our sample neither timed the market nor were cautious in their home transactions, and did not exhibit awareness of problems in overall housing markets. Certain groups of securitization agents were particularly aggressive in increasing their exposure to housing during this period, suggesting the need to expand the incentives-based view of the crisis to incorporate a role for beliefs.

Housing Index in the United Kingdom decreased to 511.60 points in June from 511.80 points in May of 2025. This dataset provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This dataset represents residential real estate listings with the following features:

ZIP: The ZIP code where the property is located || SOLDPRICE: The listing price of the property in USD || SQFT: The square footage (living area) of the property || LOTSIZE: The size of the lot (in square feet) on which the property is located || BED: The number of bedrooms in the property || BATH: The number of bathrooms (some may include half baths as "0.5") || AGE: The year the property was built (older properties have lower numbers, indicating their age) || DOM: The number of days the property has been on the market (a negative value might indicate a correction or pending listing) ||

Each row represents an individual property, and the values provide various characteristics of that listing, such as size, price, and how long it's been available for purchase.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, ranging from rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 3.7% over the five years through 2024, including an estimated slump of 2.1% in 2024 to €196.2 billion, while the average industry profit margin is forecast to reach 34.6%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing in the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated, being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. Revenue is forecast to swell at a compound annual rate of 4% over the five years through 2029 to €238.7 billion. Following a correction during 2024, housing prices are set to being recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, Proptech, which has been heavily invested in, will force estate agents to adapt, shaking up the traditional real estate industry. A notable application of Proptech is the use of AI and data analytics to predict a home’s future value.

Housing Index in China decreased by 3.50 percent in May from -4 percent in April of 2025. This dataset provides the latest reported value for - China Newly Built House Prices YoY Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The average resale house price in Canada was forecast to reach nearly ******* Canadian dollars in 2026, according to a January forecast. In 2024, house prices increased after falling for the first time since 2019. One of the reasons for the price correction was the notable drop in transaction activity. Housing transactions picked up in 2024 and are expected to continue to grow until 2026. British Columbia, which is the most expensive province for housing, is projected to see the average house price reach *** million Canadian dollars in 2026. Affordability in Vancouver Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. In 2023, the city topped the ranking for least affordable housing market in Canada, with the average homeownership cost outweighing the average household income. There are a multitude of reasons for this, but most residents believe that foreigners investing in the market cause the high housing prices. Victoria housing market The capital of British Columbia is Victoria, where housing prices are also very high. The price of a single family home in Victoria's most expensive suburb, Oak Bay was *** million Canadian dollars in 2024.

The housing prices in many Asian cities have grown rapidly since mid-2000s, leading to many reports of bubbles. However, such reports remain controversial as there is no widely accepted definition for a housing bubble. Previous studies have focused on indices, or assumed that home prices are lognomally distributed. Recently, Ohnishi et al. showed that the tail-end of the distribution of (Japan/Tokyo) becomes fatter during years where bubbles are suspected, but stop short of using this feature as a rigorous definition of a housing bubble. In this study, we look at housing transactions for Singapore (1995 to 2014) and Taiwan (2012 to 2014), and found strong evidence that the equilibrium home price distribution is a decaying exponential crossing over to a power law, after accounting for different housing types. We found positive deviations from the equilibrium distributions in Singapore condominiums and Zhu Zhai Da Lou in the Greater Taipei Area. These positive deviations are dragon kings, which thus provide us with an unambiguous and quantitative definition of housing bubbles. Also, the spatial-temporal dynamics show that bubble in Singapore is driven by price pulses in two investment districts. This finding provides a valuable insight for policymakers on implementation and evaluation of cooling measures.

I revisit Ngai and Tenreyro (2014)'s empirical analysis of seasonal match quality in American Housing Survey (AHS) data. Using 1999 data only, Ngai and Tenreyro show that homes purchased in the summer season are occupied longer and have fewer and less costly renovations soon after purchase, pointing to superior match quality for households who move house during the thicker summer market. However, applying the same methods to other years of the AHS substantially weakens these results. In addition, I document heaping in a key variable, the prior move month, and implement a multiple imputation correction. Ngai and Tenreyro's use of a coarsened measure of duration seems to largely overcome the biases that heaping introduces.