Actually, in some regions they are on their way up again. The newly-released Knight Frank Global House Price Index shows that not only in Nordic countries, but also in Australia, Israel and the Netherlands, the tide has turned quite happily. The reasons differ from country to country: some have historically low lending rates, while others still have relatively tight supply, all of which contribute to reversing the slide. The 800-pound monster in the room, however, remains the US market. It recovered somewhat, with home prices gaining 1.3% after the brutal price drop made many properties affordable. Who’d have thunk it? But the experts still worry about the lingering credit constraints in many countries as well as the inevitable interest rate increases in developed countries.