In the second quarter of 2022, global real house prices growth moderated to 2.2% year on year in aggregate. This reflected a strong increase in nominal terms (+10.6%), offset by the rapid acceleration in year-on-year consumer price growth rates (CPIs). Real house price growth lost some momentum in advanced economies (AEs), at +5.3% (down from 7.9% in Q1 2022) and turned negative in EMEs, at -0.2%, after a 1.7% increase in the previous quarter (Graph 1). The slight fall recorded by EMEs was driven mainly by the Latin American and Asian regions (–3.8% and –3.3% respectively), while real prices surged in central and ... (full story)