{
  "id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "generated_at": "2026-07-15T09:23:12.427714+00:00",
  "last_refresh": "2026-07-13",
  "source": "ECB MIR monthly new housing loans adjusted with Eurostat total dwelling house price index, and Eurostat residential building permit data; mortgage series smoothed with a 3-month moving average before rebasing and weighting.",
  "source_description": "Monthly Germany housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
  "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "meta": {
    "indicator_name": "Germany Housing Market Activity",
    "indicator_description": "Monthly Germany housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "title": "Germany Housing Market Activity",
    "description": "Monthly Germany housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "source": "ECB MIR monthly new housing loans adjusted with Eurostat total dwelling house price index, and Eurostat residential building permit data; mortgage series smoothed with a 3-month moving average before rebasing and weighting.",
    "source_description": "Monthly Germany housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "visibility": "paid",
    "updated_at": "2026-07-13T10:34:51.038196Z",
    "last_refresh": "2026-07-13",
    "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
    "topic": "Macroeconomics",
    "subtopic": "Housing",
    "geo": [
      "DE"
    ],
    "geo_included": [
      "DE"
    ],
    "page_slug": "germany-housing-market-activity",
    "page_url": "/indicators/macroeconomics/housing/germany-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": "Germany Housing Market Activity",
    "y_axis_label": "Index [2019=100]",
    "related_indicators": [
      {
        "title": "Germany Furniture Market Hub",
        "url": "/market/germany-furniture-market-hub/",
        "label": "Market hub"
      },
      {
        "title": "Germany Furniture Retail Market Size",
        "url": "/indicators/retail/market-size/germany-furniture-retail-turnover/",
        "label": "Market size"
      },
      {
        "title": "Germany Furniture Product Search Trend",
        "url": "/indicators/retail/online/germany-furniture-products-search-trend/",
        "label": "Online"
      },
      {
        "title": "France Housing Market Activity",
        "url": "/indicators/macroeconomics/housing/france-housing-market-activity/",
        "label": "Housing"
      }
    ],
    "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": [
        "DE"
      ]
    },
    "methodology_url": "/about/methodology/housing-market-activity/",
    "methodology_label": "Housing Market Activity Methodology",
    "data_hash": "df691ba0c93a19fc0536d565d3c3333366e36da1f2823a9b23591169d486dfa6",
    "trend_summary": "The Germany Housing Market Activity index shows distinct phases over time, with a peak in August 2015 at 120.9, followed by a gradual decline. The index reached its lowest point in December 2023 at 52.9, indicating significant downturns in recent years. As of the latest data, the index stands at 74.7, which is below the historical average but shows improvement from the recent trough. Recent momentum appears positive, with year-over-year increases of 3.5% over three months, 5.8% over six months, and 10.8% over twelve months, suggesting a gradual recovery.",
    "trend_summary_generated_at": "2026-07-15T09:23:23.393136+00:00",
    "key_findings": [
      "German housing activity remains subdued, pointing to a cautious backdrop for furniture, kitchens and home-related demand.",
      "Read alongside Germany Furniture Retail Market Size and Germany Furniture Product Search Trend, soft housing activity keeps the furniture demand backdrop cautious.",
      "Recent movement is improving, which points to some easing in housing-market pressure."
    ],
    "key_findings_source": "deterministic_related_context",
    "chart_alt_text": "Line chart for Germany Housing Market Activity in index points. The series runs from 2015-01-01 to 2026-04-01; the latest value is 74.7 index points. The peak is 120.9 index points in 2015-08-01."
  },
  "data": [
    {
      "date": "2015-01-01",
      "geo": "DE",
      "value": 105.66
    },
    {
      "date": "2015-02-01",
      "geo": "DE",
      "value": 101.88
    },
    {
      "date": "2015-03-01",
      "geo": "DE",
      "value": 105.7
    },
    {
      "date": "2015-04-01",
      "geo": "DE",
      "value": 105.65
    },
    {
      "date": "2015-05-01",
      "geo": "DE",
      "value": 109.04
    },
    {
      "date": "2015-06-01",
      "geo": "DE",
      "value": 112.76
    },
    {
      "date": "2015-07-01",
      "geo": "DE",
      "value": 119.4
    },
    {
      "date": "2015-08-01",
      "geo": "DE",
      "value": 120.91
    },
    {
      "date": "2015-09-01",
      "geo": "DE",
      "value": 114.04
    },
    {
      "date": "2015-10-01",
      "geo": "DE",
      "value": 106.53
    },
    {
      "date": "2015-11-01",
      "geo": "DE",
      "value": 104.83
    },
    {
      "date": "2015-12-01",
      "geo": "DE",
      "value": 106.03
    },
    {
      "date": "2016-01-01",
      "geo": "DE",
      "value": 106.73
    },
    {
      "date": "2016-02-01",
      "geo": "DE",
      "value": 106.68
    },
    {
      "date": "2016-03-01",
      "geo": "DE",
      "value": 109.49
    },
    {
      "date": "2016-04-01",
      "geo": "DE",
      "value": 107.92
    },
    {
      "date": "2016-05-01",
      "geo": "DE",
      "value": 104.58
    },
    {
      "date": "2016-06-01",
      "geo": "DE",
      "value": 103.58
    },
    {
      "date": "2016-07-01",
      "geo": "DE",
      "value": 103.33
    },
    {
      "date": "2016-08-01",
      "geo": "DE",
      "value": 106.09
    },
    {
      "date": "2016-09-01",
      "geo": "DE",
      "value": 103.52
    },
    {
      "date": "2016-10-01",
      "geo": "DE",
      "value": 100.78
    },
    {
      "date": "2016-11-01",
      "geo": "DE",
      "value": 101.94
    },
    {
      "date": "2016-12-01",
      "geo": "DE",
      "value": 104.44
    },
    {
      "date": "2017-01-01",
      "geo": "DE",
      "value": 103.27
    },
    {
      "date": "2017-02-01",
      "geo": "DE",
      "value": 101.51
    },
    {
      "date": "2017-03-01",
      "geo": "DE",
      "value": 101.96
    },
    {
      "date": "2017-04-01",
      "geo": "DE",
      "value": 100.18
    },
    {
      "date": "2017-05-01",
      "geo": "DE",
      "value": 102.93
    },
    {
      "date": "2017-06-01",
      "geo": "DE",
      "value": 100.62
    },
    {
      "date": "2017-07-01",
      "geo": "DE",
      "value": 100.9
    },
    {
      "date": "2017-08-01",
      "geo": "DE",
      "value": 100.73
    },
    {
      "date": "2017-09-01",
      "geo": "DE",
      "value": 96.83
    },
    {
      "date": "2017-10-01",
      "geo": "DE",
      "value": 95.72
    },
    {
      "date": "2017-11-01",
      "geo": "DE",
      "value": 91.98
    },
    {
      "date": "2017-12-01",
      "geo": "DE",
      "value": 94.17
    },
    {
      "date": "2018-01-01",
      "geo": "DE",
      "value": 93.4
    },
    {
      "date": "2018-02-01",
      "geo": "DE",
      "value": 94.19
    },
    {
      "date": "2018-03-01",
      "geo": "DE",
      "value": 98.09
    },
    {
      "date": "2018-04-01",
      "geo": "DE",
      "value": 98.9
    },
    {
      "date": "2018-05-01",
      "geo": "DE",
      "value": 102.12
    },
    {
      "date": "2018-06-01",
      "geo": "DE",
      "value": 98.96
    },
    {
      "date": "2018-07-01",
      "geo": "DE",
      "value": 103.63
    },
    {
      "date": "2018-08-01",
      "geo": "DE",
      "value": 101.12
    },
    {
      "date": "2018-09-01",
      "geo": "DE",
      "value": 97.82
    },
    {
      "date": "2018-10-01",
      "geo": "DE",
      "value": 92.91
    },
    {
      "date": "2018-11-01",
      "geo": "DE",
      "value": 93.21
    },
    {
      "date": "2018-12-01",
      "geo": "DE",
      "value": 95.45
    },
    {
      "date": "2019-01-01",
      "geo": "DE",
      "value": 95.71
    },
    {
      "date": "2019-02-01",
      "geo": "DE",
      "value": 90.3
    },
    {
      "date": "2019-03-01",
      "geo": "DE",
      "value": 95.99
    },
    {
      "date": "2019-04-01",
      "geo": "DE",
      "value": 99.28
    },
    {
      "date": "2019-05-01",
      "geo": "DE",
      "value": 101.5
    },
    {
      "date": "2019-06-01",
      "geo": "DE",
      "value": 99.78
    },
    {
      "date": "2019-07-01",
      "geo": "DE",
      "value": 103.28
    },
    {
      "date": "2019-08-01",
      "geo": "DE",
      "value": 103.86
    },
    {
      "date": "2019-09-01",
      "geo": "DE",
      "value": 104.3
    },
    {
      "date": "2019-10-01",
      "geo": "DE",
      "value": 101.86
    },
    {
      "date": "2019-11-01",
      "geo": "DE",
      "value": 101.85
    },
    {
      "date": "2019-12-01",
      "geo": "DE",
      "value": 102.3
    },
    {
      "date": "2020-01-01",
      "geo": "DE",
      "value": 97.26
    },
    {
      "date": "2020-02-01",
      "geo": "DE",
      "value": 92.19
    },
    {
      "date": "2020-03-01",
      "geo": "DE",
      "value": 98.1
    },
    {
      "date": "2020-04-01",
      "geo": "DE",
      "value": 102.66
    },
    {
      "date": "2020-05-01",
      "geo": "DE",
      "value": 103.19
    },
    {
      "date": "2020-06-01",
      "geo": "DE",
      "value": 103.54
    },
    {
      "date": "2020-07-01",
      "geo": "DE",
      "value": 99.43
    },
    {
      "date": "2020-08-01",
      "geo": "DE",
      "value": 98.43
    },
    {
      "date": "2020-09-01",
      "geo": "DE",
      "value": 96.54
    },
    {
      "date": "2020-10-01",
      "geo": "DE",
      "value": 95.82
    },
    {
      "date": "2020-11-01",
      "geo": "DE",
      "value": 100.12
    },
    {
      "date": "2020-12-01",
      "geo": "DE",
      "value": 97.38
    },
    {
      "date": "2021-01-01",
      "geo": "DE",
      "value": 97.02
    },
    {
      "date": "2021-02-01",
      "geo": "DE",
      "value": 97.8
    },
    {
      "date": "2021-03-01",
      "geo": "DE",
      "value": 110.31
    },
    {
      "date": "2021-04-01",
      "geo": "DE",
      "value": 99.37
    },
    {
      "date": "2021-05-01",
      "geo": "DE",
      "value": 101.05
    },
    {
      "date": "2021-06-01",
      "geo": "DE",
      "value": 97.23
    },
    {
      "date": "2021-07-01",
      "geo": "DE",
      "value": 95.66
    },
    {
      "date": "2021-08-01",
      "geo": "DE",
      "value": 95.57
    },
    {
      "date": "2021-09-01",
      "geo": "DE",
      "value": 91.18
    },
    {
      "date": "2021-10-01",
      "geo": "DE",
      "value": 89.78
    },
    {
      "date": "2021-11-01",
      "geo": "DE",
      "value": 86.88
    },
    {
      "date": "2021-12-01",
      "geo": "DE",
      "value": 92.64
    },
    {
      "date": "2022-01-01",
      "geo": "DE",
      "value": 94.75
    },
    {
      "date": "2022-02-01",
      "geo": "DE",
      "value": 94.79
    },
    {
      "date": "2022-03-01",
      "geo": "DE",
      "value": 103.06
    },
    {
      "date": "2022-04-01",
      "geo": "DE",
      "value": 102.02
    },
    {
      "date": "2022-05-01",
      "geo": "DE",
      "value": 101.44
    },
    {
      "date": "2022-06-01",
      "geo": "DE",
      "value": 93.03
    },
    {
      "date": "2022-07-01",
      "geo": "DE",
      "value": 90.02
    },
    {
      "date": "2022-08-01",
      "geo": "DE",
      "value": 78.84
    },
    {
      "date": "2022-09-01",
      "geo": "DE",
      "value": 73.56
    },
    {
      "date": "2022-10-01",
      "geo": "DE",
      "value": 67.89
    },
    {
      "date": "2022-11-01",
      "geo": "DE",
      "value": 62.99
    },
    {
      "date": "2022-12-01",
      "geo": "DE",
      "value": 63.28
    },
    {
      "date": "2023-01-01",
      "geo": "DE",
      "value": 58.94
    },
    {
      "date": "2023-02-01",
      "geo": "DE",
      "value": 57.62
    },
    {
      "date": "2023-03-01",
      "geo": "DE",
      "value": 57.88
    },
    {
      "date": "2023-04-01",
      "geo": "DE",
      "value": 56.22
    },
    {
      "date": "2023-05-01",
      "geo": "DE",
      "value": 59.12
    },
    {
      "date": "2023-06-01",
      "geo": "DE",
      "value": 55.89
    },
    {
      "date": "2023-07-01",
      "geo": "DE",
      "value": 56.71
    },
    {
      "date": "2023-08-01",
      "geo": "DE",
      "value": 55.29
    },
    {
      "date": "2023-09-01",
      "geo": "DE",
      "value": 56.84
    },
    {
      "date": "2023-10-01",
      "geo": "DE",
      "value": 58.23
    },
    {
      "date": "2023-11-01",
      "geo": "DE",
      "value": 55.31
    },
    {
      "date": "2023-12-01",
      "geo": "DE",
      "value": 52.88
    },
    {
      "date": "2024-01-01",
      "geo": "DE",
      "value": 53.66
    },
    {
      "date": "2024-02-01",
      "geo": "DE",
      "value": 55.76
    },
    {
      "date": "2024-03-01",
      "geo": "DE",
      "value": 58.05
    },
    {
      "date": "2024-04-01",
      "geo": "DE",
      "value": 57.89
    },
    {
      "date": "2024-05-01",
      "geo": "DE",
      "value": 58.8
    },
    {
      "date": "2024-06-01",
      "geo": "DE",
      "value": 59.37
    },
    {
      "date": "2024-07-01",
      "geo": "DE",
      "value": 59.76
    },
    {
      "date": "2024-08-01",
      "geo": "DE",
      "value": 63.35
    },
    {
      "date": "2024-09-01",
      "geo": "DE",
      "value": 60.2
    },
    {
      "date": "2024-10-01",
      "geo": "DE",
      "value": 62.12
    },
    {
      "date": "2024-11-01",
      "geo": "DE",
      "value": 63.51
    },
    {
      "date": "2024-12-01",
      "geo": "DE",
      "value": 65.49
    },
    {
      "date": "2025-01-01",
      "geo": "DE",
      "value": 65.89
    },
    {
      "date": "2025-02-01",
      "geo": "DE",
      "value": 66.37
    },
    {
      "date": "2025-03-01",
      "geo": "DE",
      "value": 71.6
    },
    {
      "date": "2025-04-01",
      "geo": "DE",
      "value": 72.06
    },
    {
      "date": "2025-05-01",
      "geo": "DE",
      "value": 70.69
    },
    {
      "date": "2025-06-01",
      "geo": "DE",
      "value": 70.05
    },
    {
      "date": "2025-07-01",
      "geo": "DE",
      "value": 72.12
    },
    {
      "date": "2025-08-01",
      "geo": "DE",
      "value": 69.57
    },
    {
      "date": "2025-09-01",
      "geo": "DE",
      "value": 72.73
    },
    {
      "date": "2025-10-01",
      "geo": "DE",
      "value": 68.01
    },
    {
      "date": "2025-11-01",
      "geo": "DE",
      "value": 69.83
    },
    {
      "date": "2025-12-01",
      "geo": "DE",
      "value": 70.17
    },
    {
      "date": "2026-01-01",
      "geo": "DE",
      "value": 70.92
    },
    {
      "date": "2026-02-01",
      "geo": "DE",
      "value": 70.85
    },
    {
      "date": "2026-03-01",
      "geo": "DE",
      "value": 71.83
    },
    {
      "date": "2026-04-01",
      "geo": "DE",
      "value": 74.65
    }
  ]
}