Blame the most popular mortgage in the US: The 30-year, fixed-rate mortgage But when it comes to the question of why housing prices haven't fallen as much in the US as the rest of the world over the past year, there's arguably one key culprit for prospective US homebuyers to blame.
And in the US, a lack of housing supply is arguably the biggest factor holding back housing affordability. Only the United Kingdom, Denmark, the Netherlands, and Norway saw declines within a few percentage points of the US, ranging between 2.1% and 3.7%.Ĭountless supply and demand factors have influenced global home prices.
Per the report, Sweden and New Zealand housing prices both fell roughly 14% from their peaks, while Germany, South Korea, Canada, and Australia saw declines between 5 and 10%. Account icon An icon in the shape of a person's head and shoulders.
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