Global Housing Markets Face Varied Challenges

Recent data suggests a potential easing in the Australian rental market, with national rent growth slowing to 0.1% in the year to July, the smallest increase since 2020. In the U.S., a $418 million settlement by the National Association of Realtors will introduce significant changes to broker commissions, potentially complicating the buying process but increasing transparency. China’s housing market faces a severe downturn, with July home prices plunging the most since 2015 and policymakers showing little urgency to stimulate the economy. Limited inventory continues to challenge the Capital Region's housing market, although expected Federal Reserve rate cuts might provide some relief. Meanwhile, Phoenix is experiencing a leveling market, with pending home sales down 8% year-over-year but anticipated rate drops could trigger a buying surge.