Sometimes we bring you news as it happens and sometimes, like now, we're just a little bit late. With that apology, here are the findings of what's billed as the "first truly global house price index." It was released Apr. 29 (ahem) from a British firm called Knight Frank. Here's a link to the press release.
Knight Frank concludes that average global prices were rising 11% a year in 2004 but just 6% a year as of the end of March. So, a slowdown in growth, but not a decline. The biggest reversal was felt by Hong Kong, which went from a 23% annual price increase through early 2005 to a 7% annual price decline through early 2006.