In the first quarter of 2025, housing prices experienced notable increases in multiple regions. In Spain, the price of free-market housing rose by 9% year-over-year, surpassing 2,033.4 euros per square meter, marking the highest level since mid-2008. This price surge coincided with a 14.7% increase in home sales during the same period. Similarly, in the United States, the National Association of REALTORS® reported a 3.4% rise in the national median home price year-over-year, reaching $402,300. Despite rising prices, only 28% of homes in the U.S. sold above the asking price, the lowest springtime level since 2020, according to Redfin. Additionally, the gap between the median home listing price and the median sale price widened to approximately $30,000, the largest in at least five years, with listings around $426,000 and sales near $397,000. The market also saw a reduction in affordable luxury homes, with only seven major U.S. metro areas offering luxury homes under $1 million compared to 35 in 2013. In the UK, property values more than doubled in some areas, contributing to a surge in average house prices. Demand for housing in Europe is now the second highest on the continent, further supporting price increases.