{
  "id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "generated_at": "2026-08-05T09:58:43.657756+00:00",
  "last_refresh": "2026-08-01",
  "source": "Official Swiss National Bank quarterly new mortgage statistics for self-used housing, temporally disaggregated to months with official SNB mortgage-utilisation dynamics; official Swiss Federal Statistical Office annual new buildings with dwellings; and official Swiss Federal Statistical Office construction-output indicators for NOGA 41 Hochbau. The monthly composite combines a smoothed mortgage-activity signal with a residential construction series benchmarked to annual new buildings with dwellings and distributed with BFS construction-output dynamics.",
  "source_description": "Composite Swiss housing indicator combining a finance-side SNB new mortgage signal and a construction-side residential building signal on a 65/35 basis after both components are smoothed with 3-month moving averages. The combined series then receives a light final 3-month moving average before rebasing to 2019 = 100. The finance side uses official quarterly SNB new mortgage counts distributed to months with official monthly mortgage-utilisation dynamics, while the construction side uses official BFS monthly Hochbau output indicators for temporal disaggregation and tail nowcasting.",
  "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "meta": {
    "indicator_name": "Switzerland Housing Market Activity",
    "indicator_description": "Monthly Switzerland housing market activity indicator built as a weighted combination of 3-month smoothed new mortgage activity and residential construction activity, with a light final 3-month moving average on the composite before rebasing to 2019 = 100.",
    "title": "Switzerland Housing Market Activity",
    "description": "Monthly Switzerland housing market activity indicator built as a weighted combination of 3-month smoothed new mortgage activity and residential construction activity, with a light final 3-month moving average on the composite before rebasing to 2019 = 100.",
    "source": "Official Swiss National Bank quarterly new mortgage statistics for self-used housing, temporally disaggregated to months with official SNB mortgage-utilisation dynamics; official Swiss Federal Statistical Office annual new buildings with dwellings; and official Swiss Federal Statistical Office construction-output indicators for NOGA 41 Hochbau. The monthly composite combines a smoothed mortgage-activity signal with a residential construction series benchmarked to annual new buildings with dwellings and distributed with BFS construction-output dynamics.",
    "source_description": "Composite Swiss housing indicator combining a finance-side SNB new mortgage signal and a construction-side residential building signal on a 65/35 basis after both components are smoothed with 3-month moving averages. The combined series then receives a light final 3-month moving average before rebasing to 2019 = 100. The finance side uses official quarterly SNB new mortgage counts distributed to months with official monthly mortgage-utilisation dynamics, while the construction side uses official BFS monthly Hochbau output indicators for temporal disaggregation and tail nowcasting.",
    "visibility": "paid",
    "updated_at": "2026-08-01T14:05:05Z",
    "last_refresh": "2026-08-01",
    "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
    "topic": "Macroeconomics",
    "subtopic": "Housing",
    "geo": [
      "CH"
    ],
    "geo_included": [
      "CH"
    ],
    "page_slug": "switzerland-housing-market-activity",
    "page_url": "/indicators/macroeconomics/housing/switzerland-housing-market-activity/",
    "chart_type": "line",
    "series_type": "single",
    "frequency": "monthly",
    "units": "Index (2019 = 100)",
    "legend": false,
    "featured_topic": true,
    "featured_subtopic": true,
    "featured_rank_topic": 5,
    "featured_rank_subtopic": 2,
    "chart_title": "Switzerland Housing Market Activity",
    "y_axis_label": "Index [2019=100]",
    "related_indicators": [
      {
        "title": "Switzerland Furniture Market Hub",
        "url": "/market/switzerland-furniture-market-hub/",
        "label": "Market hub"
      },
      {
        "title": "Switzerland Furniture Retail Market Size",
        "url": "/indicators/retail/market-size/switzerland-furniture-retail-turnover/",
        "label": "Retail"
      },
      {
        "title": "Switzerland Furniture Consumer Market Size",
        "url": "/indicators/retail/market-size/switzerland-furniture-consumer-market-size/",
        "label": "Market size"
      },
      {
        "title": "Switzerland Consumer Confidence",
        "url": "/indicators/macroeconomics/consumer-sentiment/switzerland-consumer-confidence/",
        "label": "Consumer sentiment"
      }
    ],
    "taxonomy_path": [
      "macroeconomics",
      "housing",
      "market-activity"
    ],
    "taxonomy_labels": [
      "Macroeconomics",
      "Housing",
      "Market activity"
    ],
    "taxonomy_nodes": [
      {
        "id": "macroeconomics",
        "label": "Macroeconomics",
        "has_page": true,
        "sort_order": 30
      },
      {
        "id": "housing",
        "label": "Housing",
        "has_page": true,
        "sort_order": 20
      },
      {
        "id": "market-activity",
        "label": "Market activity",
        "has_page": false,
        "sort_order": 10
      }
    ],
    "taxonomy_page_path": [
      "macroeconomics",
      "housing"
    ],
    "taxonomy_page_labels": [
      "Macroeconomics",
      "Housing"
    ],
    "taxonomy_collection": "market-activity",
    "taxonomy_collection_label": "Market activity",
    "entity": {
      "type": "country",
      "geo": [
        "CH"
      ]
    },
    "methodology_url": "/about/methodology/housing-market-activity/",
    "methodology_label": "Housing Market Activity Methodology",
    "data_hash": "e685693d9352eceda442489070510db05639c31090ed2d33fd08f3e44995e036",
    "trend_summary": "The Switzerland housing market activity index experienced notable fluctuations from 2018 to 2026, with a peak in July 2021 at 115.8 and a trough in April 2024 at 82.3. The latest index level of 90.2 is below the 2019 baseline of 100, indicating a decline from the peak period. Recent momentum shows a modest recovery, with year-over-year increases of 0.2% over three months, 3.3% over six months, and 5.3% over twelve months. Yearly averages suggest a high in 2021 followed by a gradual decrease, stabilizing around the mid-90s in subsequent years.",
    "trend_summary_generated_at": "2026-08-05T09:58:51.983003+00:00",
    "key_findings": [
      "Switzerland housing activity at 90.2 remains below the 2019 baseline, keeping the demand signal cautious.",
      "The housing cycle is fragile, with recent weakening pointing to softer residential momentum.",
      "Read alongside consumer sentiment at -34.0, housing-linked demand does not yet show a clear impulse."
    ],
    "key_findings_source": "ai_rewrite",
    "key_findings_generated_at": "2026-08-05T09:58:55.119164+00:00",
    "chart_alt_text": "Line chart for Switzerland Housing Market Activity in index points. The series runs from 2018-01-01 to 2026-03-01; the latest value is 90.2 index points. The peak is 115.8 index points in 2021-07-01."
  },
  "data": [
    {
      "date": "2018-01-01",
      "geo": "CH",
      "value": 90.399
    },
    {
      "date": "2018-02-01",
      "geo": "CH",
      "value": 88.911
    },
    {
      "date": "2018-03-01",
      "geo": "CH",
      "value": 90.029
    },
    {
      "date": "2018-04-01",
      "geo": "CH",
      "value": 91.834
    },
    {
      "date": "2018-05-01",
      "geo": "CH",
      "value": 97.195
    },
    {
      "date": "2018-06-01",
      "geo": "CH",
      "value": 101.157
    },
    {
      "date": "2018-07-01",
      "geo": "CH",
      "value": 104.147
    },
    {
      "date": "2018-08-01",
      "geo": "CH",
      "value": 103.78
    },
    {
      "date": "2018-09-01",
      "geo": "CH",
      "value": 102.574
    },
    {
      "date": "2018-10-01",
      "geo": "CH",
      "value": 100.232
    },
    {
      "date": "2018-11-01",
      "geo": "CH",
      "value": 99.063
    },
    {
      "date": "2018-12-01",
      "geo": "CH",
      "value": 99.48
    },
    {
      "date": "2019-01-01",
      "geo": "CH",
      "value": 100.72
    },
    {
      "date": "2019-02-01",
      "geo": "CH",
      "value": 99.091
    },
    {
      "date": "2019-03-01",
      "geo": "CH",
      "value": 93.934
    },
    {
      "date": "2019-04-01",
      "geo": "CH",
      "value": 89.378
    },
    {
      "date": "2019-05-01",
      "geo": "CH",
      "value": 90.377
    },
    {
      "date": "2019-06-01",
      "geo": "CH",
      "value": 95.59
    },
    {
      "date": "2019-07-01",
      "geo": "CH",
      "value": 101.786
    },
    {
      "date": "2019-08-01",
      "geo": "CH",
      "value": 104.515
    },
    {
      "date": "2019-09-01",
      "geo": "CH",
      "value": 107.056
    },
    {
      "date": "2019-10-01",
      "geo": "CH",
      "value": 106.991
    },
    {
      "date": "2019-11-01",
      "geo": "CH",
      "value": 106.675
    },
    {
      "date": "2019-12-01",
      "geo": "CH",
      "value": 103.887
    },
    {
      "date": "2020-01-01",
      "geo": "CH",
      "value": 101.181
    },
    {
      "date": "2020-02-01",
      "geo": "CH",
      "value": 97.329
    },
    {
      "date": "2020-03-01",
      "geo": "CH",
      "value": 93.505
    },
    {
      "date": "2020-04-01",
      "geo": "CH",
      "value": 90.911
    },
    {
      "date": "2020-05-01",
      "geo": "CH",
      "value": 92.572
    },
    {
      "date": "2020-06-01",
      "geo": "CH",
      "value": 95.128
    },
    {
      "date": "2020-07-01",
      "geo": "CH",
      "value": 98.847
    },
    {
      "date": "2020-08-01",
      "geo": "CH",
      "value": 99.722
    },
    {
      "date": "2020-09-01",
      "geo": "CH",
      "value": 102.659
    },
    {
      "date": "2020-10-01",
      "geo": "CH",
      "value": 105.156
    },
    {
      "date": "2020-11-01",
      "geo": "CH",
      "value": 109.593
    },
    {
      "date": "2020-12-01",
      "geo": "CH",
      "value": 112.764
    },
    {
      "date": "2021-01-01",
      "geo": "CH",
      "value": 113.632
    },
    {
      "date": "2021-02-01",
      "geo": "CH",
      "value": 110.742
    },
    {
      "date": "2021-03-01",
      "geo": "CH",
      "value": 105.694
    },
    {
      "date": "2021-04-01",
      "geo": "CH",
      "value": 103.724
    },
    {
      "date": "2021-05-01",
      "geo": "CH",
      "value": 106.975
    },
    {
      "date": "2021-06-01",
      "geo": "CH",
      "value": 112.796
    },
    {
      "date": "2021-07-01",
      "geo": "CH",
      "value": 115.828
    },
    {
      "date": "2021-08-01",
      "geo": "CH",
      "value": 114.608
    },
    {
      "date": "2021-09-01",
      "geo": "CH",
      "value": 111.605
    },
    {
      "date": "2021-10-01",
      "geo": "CH",
      "value": 110.942
    },
    {
      "date": "2021-11-01",
      "geo": "CH",
      "value": 111.486
    },
    {
      "date": "2021-12-01",
      "geo": "CH",
      "value": 111.188
    },
    {
      "date": "2022-01-01",
      "geo": "CH",
      "value": 106.445
    },
    {
      "date": "2022-02-01",
      "geo": "CH",
      "value": 99.124
    },
    {
      "date": "2022-03-01",
      "geo": "CH",
      "value": 95.538
    },
    {
      "date": "2022-04-01",
      "geo": "CH",
      "value": 97.354
    },
    {
      "date": "2022-05-01",
      "geo": "CH",
      "value": 104.656
    },
    {
      "date": "2022-06-01",
      "geo": "CH",
      "value": 108.727
    },
    {
      "date": "2022-07-01",
      "geo": "CH",
      "value": 110.153
    },
    {
      "date": "2022-08-01",
      "geo": "CH",
      "value": 107.324
    },
    {
      "date": "2022-09-01",
      "geo": "CH",
      "value": 105.284
    },
    {
      "date": "2022-10-01",
      "geo": "CH",
      "value": 102.618
    },
    {
      "date": "2022-11-01",
      "geo": "CH",
      "value": 101.451
    },
    {
      "date": "2022-12-01",
      "geo": "CH",
      "value": 99.812
    },
    {
      "date": "2023-01-01",
      "geo": "CH",
      "value": 99.797
    },
    {
      "date": "2023-02-01",
      "geo": "CH",
      "value": 97.858
    },
    {
      "date": "2023-03-01",
      "geo": "CH",
      "value": 95.769
    },
    {
      "date": "2023-04-01",
      "geo": "CH",
      "value": 92.659
    },
    {
      "date": "2023-05-01",
      "geo": "CH",
      "value": 93.645
    },
    {
      "date": "2023-06-01",
      "geo": "CH",
      "value": 96.07
    },
    {
      "date": "2023-07-01",
      "geo": "CH",
      "value": 98.33
    },
    {
      "date": "2023-08-01",
      "geo": "CH",
      "value": 95.624
    },
    {
      "date": "2023-09-01",
      "geo": "CH",
      "value": 92.415
    },
    {
      "date": "2023-10-01",
      "geo": "CH",
      "value": 90.431
    },
    {
      "date": "2023-11-01",
      "geo": "CH",
      "value": 92.996
    },
    {
      "date": "2023-12-01",
      "geo": "CH",
      "value": 94.536
    },
    {
      "date": "2024-01-01",
      "geo": "CH",
      "value": 94.189
    },
    {
      "date": "2024-02-01",
      "geo": "CH",
      "value": 89.099
    },
    {
      "date": "2024-03-01",
      "geo": "CH",
      "value": 85.005
    },
    {
      "date": "2024-04-01",
      "geo": "CH",
      "value": 82.342
    },
    {
      "date": "2024-05-01",
      "geo": "CH",
      "value": 85.58
    },
    {
      "date": "2024-06-01",
      "geo": "CH",
      "value": 88.821
    },
    {
      "date": "2024-07-01",
      "geo": "CH",
      "value": 93.768
    },
    {
      "date": "2024-08-01",
      "geo": "CH",
      "value": 93.984
    },
    {
      "date": "2024-09-01",
      "geo": "CH",
      "value": 94.576
    },
    {
      "date": "2024-10-01",
      "geo": "CH",
      "value": 92.233
    },
    {
      "date": "2024-11-01",
      "geo": "CH",
      "value": 92.775
    },
    {
      "date": "2024-12-01",
      "geo": "CH",
      "value": 93.897
    },
    {
      "date": "2025-01-01",
      "geo": "CH",
      "value": 95.728
    },
    {
      "date": "2025-02-01",
      "geo": "CH",
      "value": 95.415
    },
    {
      "date": "2025-03-01",
      "geo": "CH",
      "value": 92.627
    },
    {
      "date": "2025-04-01",
      "geo": "CH",
      "value": 91.314
    },
    {
      "date": "2025-05-01",
      "geo": "CH",
      "value": 92.94
    },
    {
      "date": "2025-06-01",
      "geo": "CH",
      "value": 97.181
    },
    {
      "date": "2025-07-01",
      "geo": "CH",
      "value": 100.335
    },
    {
      "date": "2025-08-01",
      "geo": "CH",
      "value": 99.75
    },
    {
      "date": "2025-09-01",
      "geo": "CH",
      "value": 97.667
    },
    {
      "date": "2025-10-01",
      "geo": "CH",
      "value": 96.776
    },
    {
      "date": "2025-11-01",
      "geo": "CH",
      "value": 98.876
    },
    {
      "date": "2025-12-01",
      "geo": "CH",
      "value": 101.065
    },
    {
      "date": "2026-01-01",
      "geo": "CH",
      "value": 99.367
    },
    {
      "date": "2026-02-01",
      "geo": "CH",
      "value": 94.926
    },
    {
      "date": "2026-03-01",
      "geo": "CH",
      "value": 90.186
    }
  ]
}