Home prices through the first half of this year are in line with Fitch Ratings’ 2023 forecasts for most markets, but we have revised the forecasts for five countries covered in our 2023 Global Housing and Mortgage Outlook (GHMO). Updates for four of these countries reflect higher home price expectations. Our December 2022 report indicated nominal home prices would decline or grow slower in 2023 for most markets, driven by cooling demand as a result of rising mortgage rates and weakening economic conditions. As forecast, global housing market activity has contracted this year across all regions. Property prices in ... (full story)