{
  "id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "generated_at": "2026-10-07T14:38:41.481784+00:00",
  "last_refresh": "2026-10-05",
  "source": "Statistics Norway dwelling-secured household loan balances and residential building permits. Housing finance is house-price adjusted, extended in early months using broader household loan debt, and smoothed with a 3-month moving average before combining 65% finance and 35% construction components; residential permits are smoothed with a trailing 3-month moving average.",
  "source_description": "Monthly Norway housing market activity indicator based on a weighted combination of house-price-adjusted mortgage credit and residential building permits, indexed to 2019 = 100.",
  "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "meta": {
    "indicator_name": "Norway Housing Market Activity",
    "indicator_description": "Monthly Norway housing market activity indicator based on a weighted combination of house-price-adjusted mortgage credit and residential building permits, indexed to 2019 = 100.",
    "title": "Norway Housing Market Activity",
    "description": "Monthly Norway housing market activity indicator based on a weighted combination of house-price-adjusted mortgage credit and residential building permits, indexed to 2019 = 100.",
    "source": "Statistics Norway dwelling-secured household loan balances and residential building permits. Housing finance is house-price adjusted, extended in early months using broader household loan debt, and smoothed with a 3-month moving average before combining 65% finance and 35% construction components; residential permits are smoothed with a trailing 3-month moving average.",
    "source_description": "Monthly Norway housing market activity indicator based on a weighted combination of house-price-adjusted mortgage credit and residential building permits, indexed to 2019 = 100.",
    "visibility": "paid",
    "updated_at": "2026-10-05T15:53:45.921495Z",
    "last_refresh": "2026-10-05",
    "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
    "topic": "Macroeconomics",
    "subtopic": "Housing",
    "geo": [
      "NO"
    ],
    "geo_included": [
      "NO"
    ],
    "page_slug": "norway-housing-market-activity",
    "page_url": "/indicators/macroeconomics/housing/norway-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": "Norway Housing Market Activity",
    "y_axis_label": "Index [2019=100]",
    "related_indicators": [
      {
        "title": "Norway Furniture Market Hub",
        "url": "/market/norway-furniture-market-hub/",
        "label": "Market hub"
      },
      {
        "title": "Norway Furniture Retail Market Size",
        "url": "/indicators/retail/market-size/norway-furniture-retail-turnover/",
        "label": "Retail"
      },
      {
        "title": "Norway Furniture Consumer Market Size",
        "url": "/indicators/retail/market-size/norway-furniture-consumer-market-size/",
        "label": "Market size"
      },
      {
        "title": "Sweden Housing Market Activity",
        "url": "/indicators/macroeconomics/housing/sweden-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": [
        "NO"
      ]
    },
    "methodology_url": "/about/methodology/housing-market-activity/",
    "methodology_label": "Housing Market Activity Methodology",
    "data_hash": "7051052d1d66368d1e7c5415e751208282aadba30bb65d737d4e13dfbf9f0994",
    "trend_summary": "The Norway Housing Market Activity index shows a peak in August 2019 at 103.7, followed by a general decline, reaching a trough in December 2024 at 80.7. The latest level of 87.5 remains below the 2019 baseline of 100, indicating a continued subdued market. Recent momentum appears negative, with a year-over-year decline of 1.2% over the past three months and 1.9% over six months, suggesting ongoing challenges in the market. Yearly averages reveal a gradual decline from 2019, with the most recent complete year, 2025, averaging 86.0.",
    "trend_summary_generated_at": "2026-10-07T14:38:47.490536+00:00",
    "key_findings": [
      "Norway housing activity is below its 2019 baseline, so the housing-linked demand signal is still soft.",
      "Read alongside Norway Furniture Retail Market Size and Norway Furniture Consumer Market Size, soft housing activity keeps the furniture demand backdrop cautious.",
      "Recent movement is broadly sideways, so the housing signal is not yet showing a clear new impulse."
    ],
    "key_findings_source": "deterministic_related_context",
    "chart_alt_text": "Line chart for Norway Housing Market Activity in index points. The series runs from 2016-01-01 to 2026-08-01; the latest value is 87.5 index points. The peak is 103.7 index points in 2019-08-01."
  },
  "data": [
    {
      "date": "2016-01-01",
      "geo": "NO",
      "value": 92.03
    },
    {
      "date": "2016-02-01",
      "geo": "NO",
      "value": 94.08
    },
    {
      "date": "2016-03-01",
      "geo": "NO",
      "value": 94.78
    },
    {
      "date": "2016-04-01",
      "geo": "NO",
      "value": 96.99
    },
    {
      "date": "2016-05-01",
      "geo": "NO",
      "value": 97.88
    },
    {
      "date": "2016-06-01",
      "geo": "NO",
      "value": 101.12
    },
    {
      "date": "2016-07-01",
      "geo": "NO",
      "value": 98.42
    },
    {
      "date": "2016-08-01",
      "geo": "NO",
      "value": 99.01
    },
    {
      "date": "2016-09-01",
      "geo": "NO",
      "value": 96.78
    },
    {
      "date": "2016-10-01",
      "geo": "NO",
      "value": 98.45
    },
    {
      "date": "2016-11-01",
      "geo": "NO",
      "value": 97.61
    },
    {
      "date": "2016-12-01",
      "geo": "NO",
      "value": 99.49
    },
    {
      "date": "2017-01-01",
      "geo": "NO",
      "value": 100.31
    },
    {
      "date": "2017-02-01",
      "geo": "NO",
      "value": 99.45
    },
    {
      "date": "2017-03-01",
      "geo": "NO",
      "value": 99.46
    },
    {
      "date": "2017-04-01",
      "geo": "NO",
      "value": 99.54
    },
    {
      "date": "2017-05-01",
      "geo": "NO",
      "value": 97.89
    },
    {
      "date": "2017-06-01",
      "geo": "NO",
      "value": 99.21
    },
    {
      "date": "2017-07-01",
      "geo": "NO",
      "value": 101.34
    },
    {
      "date": "2017-08-01",
      "geo": "NO",
      "value": 101.14
    },
    {
      "date": "2017-09-01",
      "geo": "NO",
      "value": 97.97
    },
    {
      "date": "2017-10-01",
      "geo": "NO",
      "value": 94.26
    },
    {
      "date": "2017-11-01",
      "geo": "NO",
      "value": 94.55
    },
    {
      "date": "2017-12-01",
      "geo": "NO",
      "value": 93.93
    },
    {
      "date": "2018-01-01",
      "geo": "NO",
      "value": 95.26
    },
    {
      "date": "2018-02-01",
      "geo": "NO",
      "value": 96.74
    },
    {
      "date": "2018-03-01",
      "geo": "NO",
      "value": 95.25
    },
    {
      "date": "2018-04-01",
      "geo": "NO",
      "value": 94.42
    },
    {
      "date": "2018-05-01",
      "geo": "NO",
      "value": 92.56
    },
    {
      "date": "2018-06-01",
      "geo": "NO",
      "value": 92.04
    },
    {
      "date": "2018-07-01",
      "geo": "NO",
      "value": 93.28
    },
    {
      "date": "2018-08-01",
      "geo": "NO",
      "value": 97.78
    },
    {
      "date": "2018-09-01",
      "geo": "NO",
      "value": 99.25
    },
    {
      "date": "2018-10-01",
      "geo": "NO",
      "value": 99.59
    },
    {
      "date": "2018-11-01",
      "geo": "NO",
      "value": 98.42
    },
    {
      "date": "2018-12-01",
      "geo": "NO",
      "value": 99.71
    },
    {
      "date": "2019-01-01",
      "geo": "NO",
      "value": 101.17
    },
    {
      "date": "2019-02-01",
      "geo": "NO",
      "value": 100.0
    },
    {
      "date": "2019-03-01",
      "geo": "NO",
      "value": 98.51
    },
    {
      "date": "2019-04-01",
      "geo": "NO",
      "value": 99.47
    },
    {
      "date": "2019-05-01",
      "geo": "NO",
      "value": 100.32
    },
    {
      "date": "2019-06-01",
      "geo": "NO",
      "value": 102.57
    },
    {
      "date": "2019-07-01",
      "geo": "NO",
      "value": 102.22
    },
    {
      "date": "2019-08-01",
      "geo": "NO",
      "value": 103.7
    },
    {
      "date": "2019-09-01",
      "geo": "NO",
      "value": 103.24
    },
    {
      "date": "2019-10-01",
      "geo": "NO",
      "value": 99.46
    },
    {
      "date": "2019-11-01",
      "geo": "NO",
      "value": 96.5
    },
    {
      "date": "2019-12-01",
      "geo": "NO",
      "value": 92.83
    },
    {
      "date": "2020-01-01",
      "geo": "NO",
      "value": 93.4
    },
    {
      "date": "2020-02-01",
      "geo": "NO",
      "value": 92.9
    },
    {
      "date": "2020-03-01",
      "geo": "NO",
      "value": 96.36
    },
    {
      "date": "2020-04-01",
      "geo": "NO",
      "value": 96.72
    },
    {
      "date": "2020-05-01",
      "geo": "NO",
      "value": 99.15
    },
    {
      "date": "2020-06-01",
      "geo": "NO",
      "value": 98.89
    },
    {
      "date": "2020-07-01",
      "geo": "NO",
      "value": 100.24
    },
    {
      "date": "2020-08-01",
      "geo": "NO",
      "value": 98.64
    },
    {
      "date": "2020-09-01",
      "geo": "NO",
      "value": 98.37
    },
    {
      "date": "2020-10-01",
      "geo": "NO",
      "value": 97.23
    },
    {
      "date": "2020-11-01",
      "geo": "NO",
      "value": 97.8
    },
    {
      "date": "2020-12-01",
      "geo": "NO",
      "value": 98.38
    },
    {
      "date": "2021-01-01",
      "geo": "NO",
      "value": 97.57
    },
    {
      "date": "2021-02-01",
      "geo": "NO",
      "value": 96.22
    },
    {
      "date": "2021-03-01",
      "geo": "NO",
      "value": 94.99
    },
    {
      "date": "2021-04-01",
      "geo": "NO",
      "value": 97.97
    },
    {
      "date": "2021-05-01",
      "geo": "NO",
      "value": 97.7
    },
    {
      "date": "2021-06-01",
      "geo": "NO",
      "value": 99.44
    },
    {
      "date": "2021-07-01",
      "geo": "NO",
      "value": 92.85
    },
    {
      "date": "2021-08-01",
      "geo": "NO",
      "value": 91.31
    },
    {
      "date": "2021-09-01",
      "geo": "NO",
      "value": 91.57
    },
    {
      "date": "2021-10-01",
      "geo": "NO",
      "value": 96.45
    },
    {
      "date": "2021-11-01",
      "geo": "NO",
      "value": 96.36
    },
    {
      "date": "2021-12-01",
      "geo": "NO",
      "value": 95.27
    },
    {
      "date": "2022-01-01",
      "geo": "NO",
      "value": 94.33
    },
    {
      "date": "2022-02-01",
      "geo": "NO",
      "value": 95.84
    },
    {
      "date": "2022-03-01",
      "geo": "NO",
      "value": 96.86
    },
    {
      "date": "2022-04-01",
      "geo": "NO",
      "value": 94.1
    },
    {
      "date": "2022-05-01",
      "geo": "NO",
      "value": 96.52
    },
    {
      "date": "2022-06-01",
      "geo": "NO",
      "value": 94.61
    },
    {
      "date": "2022-07-01",
      "geo": "NO",
      "value": 96.41
    },
    {
      "date": "2022-08-01",
      "geo": "NO",
      "value": 91.96
    },
    {
      "date": "2022-09-01",
      "geo": "NO",
      "value": 92.64
    },
    {
      "date": "2022-10-01",
      "geo": "NO",
      "value": 94.61
    },
    {
      "date": "2022-11-01",
      "geo": "NO",
      "value": 95.66
    },
    {
      "date": "2022-12-01",
      "geo": "NO",
      "value": 95.07
    },
    {
      "date": "2023-01-01",
      "geo": "NO",
      "value": 92.03
    },
    {
      "date": "2023-02-01",
      "geo": "NO",
      "value": 92.68
    },
    {
      "date": "2023-03-01",
      "geo": "NO",
      "value": 90.46
    },
    {
      "date": "2023-04-01",
      "geo": "NO",
      "value": 88.2
    },
    {
      "date": "2023-05-01",
      "geo": "NO",
      "value": 86.55
    },
    {
      "date": "2023-06-01",
      "geo": "NO",
      "value": 86.5
    },
    {
      "date": "2023-07-01",
      "geo": "NO",
      "value": 87.8
    },
    {
      "date": "2023-08-01",
      "geo": "NO",
      "value": 90.16
    },
    {
      "date": "2023-09-01",
      "geo": "NO",
      "value": 90.59
    },
    {
      "date": "2023-10-01",
      "geo": "NO",
      "value": 91.83
    },
    {
      "date": "2023-11-01",
      "geo": "NO",
      "value": 91.17
    },
    {
      "date": "2023-12-01",
      "geo": "NO",
      "value": 92.37
    },
    {
      "date": "2024-01-01",
      "geo": "NO",
      "value": 93.39
    },
    {
      "date": "2024-02-01",
      "geo": "NO",
      "value": 92.94
    },
    {
      "date": "2024-03-01",
      "geo": "NO",
      "value": 91.33
    },
    {
      "date": "2024-04-01",
      "geo": "NO",
      "value": 89.11
    },
    {
      "date": "2024-05-01",
      "geo": "NO",
      "value": 86.38
    },
    {
      "date": "2024-06-01",
      "geo": "NO",
      "value": 84.46
    },
    {
      "date": "2024-07-01",
      "geo": "NO",
      "value": 86.07
    },
    {
      "date": "2024-08-01",
      "geo": "NO",
      "value": 85.14
    },
    {
      "date": "2024-09-01",
      "geo": "NO",
      "value": 87.36
    },
    {
      "date": "2024-10-01",
      "geo": "NO",
      "value": 83.99
    },
    {
      "date": "2024-11-01",
      "geo": "NO",
      "value": 84.97
    },
    {
      "date": "2024-12-01",
      "geo": "NO",
      "value": 80.72
    },
    {
      "date": "2025-01-01",
      "geo": "NO",
      "value": 81.55
    },
    {
      "date": "2025-02-01",
      "geo": "NO",
      "value": 81.14
    },
    {
      "date": "2025-03-01",
      "geo": "NO",
      "value": 87.62
    },
    {
      "date": "2025-04-01",
      "geo": "NO",
      "value": 90.11
    },
    {
      "date": "2025-05-01",
      "geo": "NO",
      "value": 90.17
    },
    {
      "date": "2025-06-01",
      "geo": "NO",
      "value": 88.61
    },
    {
      "date": "2025-07-01",
      "geo": "NO",
      "value": 86.46
    },
    {
      "date": "2025-08-01",
      "geo": "NO",
      "value": 88.33
    },
    {
      "date": "2025-09-01",
      "geo": "NO",
      "value": 85.97
    },
    {
      "date": "2025-10-01",
      "geo": "NO",
      "value": 84.68
    },
    {
      "date": "2025-11-01",
      "geo": "NO",
      "value": 83.49
    },
    {
      "date": "2025-12-01",
      "geo": "NO",
      "value": 84.12
    },
    {
      "date": "2026-01-01",
      "geo": "NO",
      "value": 84.64
    },
    {
      "date": "2026-02-01",
      "geo": "NO",
      "value": 86.78
    },
    {
      "date": "2026-03-01",
      "geo": "NO",
      "value": 86.77
    },
    {
      "date": "2026-04-01",
      "geo": "NO",
      "value": 87.96
    },
    {
      "date": "2026-05-01",
      "geo": "NO",
      "value": 86.16
    },
    {
      "date": "2026-06-01",
      "geo": "NO",
      "value": 85.92
    },
    {
      "date": "2026-07-01",
      "geo": "NO",
      "value": 86.91
    },
    {
      "date": "2026-08-01",
      "geo": "NO",
      "value": 87.51
    }
  ]
}