House placed on coins Men's hand is planning savings money of coins to buy a home concept concept for property ladder, mortgage and real estate investment. for saving or investment for a house,

The rise in global housing prices slowed in the second quarter, according to new data from the Bank for International Settlements (BIS).

Global real house price growth slowed to 2.2% year over year in the second quarter of 2022 as strong nominal growth was largely offset by the effects of soaring consumer inflation.

Housing price growth was still strong in advanced economies, where it rose at a 5.3% annual rate in Q2, down from 7.9% in the first quarter. In emerging markets, prices declined slightly, the BIS said.

In Canada and the U.S., real housing prices were up 8% and 9%, respectively, in Q2, the BIS said — noting that prices have been strong in recent years.

“Despite the recent global slowdown, there has been a significant rise in global real residential prices since the outbreak of the Covid-19 pandemic,” the BIS said.

On a global basis, prices are up about 9% since the onset of the pandemic, and they’re 23% higher for Canada and the U.S., it noted.

Longer term, the BIS said that global house prices are now up by about 27% from the immediate aftermath of the financial crisis, with advanced economy prices up 40% and emerging markets 18% higher.

“Among the G20 economies, real prices have almost doubled since 2010 in Turkey and Canada (+90% in both economies) and they have risen by around 60% in Germany, India and the U.S.,” it said.