The Global Housing Inspection Report – 2023 edition

Executive summary:

  • Aggressive monetary policy tightening in developed markets led to a drawdown in house prices in 2022, but not a meltdown
  • Early 2023 showed some signs of encouragement in developed country housing markets, but we think it's too early to say that the bottom is in sight

The bottom line:

The residential housing market can be dynamic and nuanced, but we believe that working with a trusted advisor can help you be better positioned to handle uncertainty.


"The Green Path? Or the Yellow Path?" Dora the Explorer would ask, standing in front of a cornfield labyrinth.

And thousands of children would yell out, "The Green Path," the path proposed by Dora's trusty map, the one that 99% of the time would be right.

Sadly, navigating the economy and markets is not nearly as simple. As the leading and lagging economic indicators continue their tug-of-war over whose vision of the economy will turn out to be correct, let's revisit an old friend of ours—the housing market – and try to divine which path it is on. In this 2023 edition of the Global Housing Inspection Report, we'll explore the state of the housing market in several key developed markets: the U.S., Canada, the UK, and Australia.