{
  "id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "generated_at": "2026-07-15T09:27:40.424633+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. After a reporting gap longer than 6 months in the ECB mortgage series, the activity indicator is extended with a 3-month smoothed Eurostat residential building permit signal, level-linked to the last reliable composite month.",
  "source_description": "Monthly Romania housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100. After a reporting gap longer than 6 months in the ECB mortgage series, the activity indicator is extended with a 3-month smoothed Eurostat residential building permit signal, level-linked to the last reliable composite month.",
  "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "meta": {
    "indicator_name": "Romania Housing Market Activity",
    "indicator_description": "Monthly Romania housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100. After a reporting gap longer than 6 months in the ECB mortgage series, the activity indicator is extended with a 3-month smoothed Eurostat residential building permit signal, level-linked to the last reliable composite month.",
    "title": "Romania Housing Market Activity",
    "description": "Monthly Romania housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100. After a reporting gap longer than 6 months in the ECB mortgage series, the activity indicator is extended with a 3-month smoothed Eurostat residential building permit signal, level-linked to the last reliable composite month.",
    "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. After a reporting gap longer than 6 months in the ECB mortgage series, the activity indicator is extended with a 3-month smoothed Eurostat residential building permit signal, level-linked to the last reliable composite month.",
    "source_description": "Monthly Romania housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100. After a reporting gap longer than 6 months in the ECB mortgage series, the activity indicator is extended with a 3-month smoothed Eurostat residential building permit signal, level-linked to the last reliable composite month.",
    "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": [
      "RO"
    ],
    "geo_included": [
      "RO"
    ],
    "page_slug": "romania-housing-market-activity",
    "page_url": "/indicators/macroeconomics/housing/romania-housing-market-activity/",
    "chart_type": "line",
    "series_type": "single",
    "frequency": "monthly",
    "units": "Index (2019 = 100)",
    "legend": false,
    "featured_topic": false,
    "featured_subtopic": false,
    "featured_rank_topic": null,
    "featured_rank_subtopic": null,
    "chart_title": "Romania Housing Market Activity",
    "y_axis_label": "Index [2019=100]",
    "related_indicators": [
      {
        "title": "Romania Furniture Market Hub",
        "url": "/market/romania-furniture-market-hub/",
        "label": "Market hub"
      },
      {
        "title": "Romania Furniture Consumer Market Size",
        "url": "/indicators/retail/market-size/romania-furniture-consumer-market-size/",
        "label": "Market size"
      },
      {
        "title": "Romania Furniture Production Market Size",
        "url": "/indicators/industry/market-size/romania-furniture-production-turnover/",
        "label": "Industry"
      },
      {
        "title": "Romania Consumer Confidence",
        "url": "/indicators/macroeconomics/consumer-sentiment/romania-consumer-confidence/",
        "label": "Sentiment"
      },
      {
        "title": "Romania Furniture Imports by Year",
        "url": "/indicators/industry/trade/romania-furniture-imports/",
        "label": "Trade"
      }
    ],
    "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": [
        "RO"
      ]
    },
    "methodology_url": "/about/methodology/housing-market-activity/",
    "methodology_label": "Housing Market Activity Methodology",
    "data_hash": "56acac8107d2a53159dbd340bdaa77e3fa3cdf6149f207fc986113e6b4ccc9ee",
    "trend_summary": "The Romania Housing Market Activity indicator shows distinct phases over time, with a notable trough in March 2019 at 86.3 and a peak in January 2026 at 163.2. The latest level of 148.9 is significantly above the 2019 baseline, indicating strong growth. Recent momentum appears positive, with year-over-year increases of 12.8% over three months, 11.0% over six months, and 13.1% over twelve months. Yearly averages suggest a general upward trend since 2021, with some fluctuations in growth rates.",
    "trend_summary_generated_at": "2026-07-15T09:27:45.515411+00:00",
    "key_findings": [
      "Romania's housing activity is strong, indexed at 148.9, suggesting elevated housing-linked demand versus 2019.",
      "Recent weakening in activity indicates softer residential momentum, with a 12.8% year-over-year increase over three months.",
      "The strong housing signal should be viewed with Romania's furniture market trends for a comprehensive demand outlook."
    ],
    "key_findings_source": "ai_rewrite",
    "key_findings_generated_at": "2026-07-15T09:27:50.415721+00:00",
    "chart_alt_text": "Line chart for Romania Housing Market Activity in index points. The series runs from 2017-08-01 to 2026-05-01; the latest value is 148.9 index points. The peak is 163.2 index points in 2026-01-01."
  },
  "data": [
    {
      "date": "2017-08-01",
      "geo": "RO",
      "value": 106.08
    },
    {
      "date": "2017-09-01",
      "geo": "RO",
      "value": 105.81
    },
    {
      "date": "2017-11-01",
      "geo": "RO",
      "value": 105.88
    },
    {
      "date": "2017-12-01",
      "geo": "RO",
      "value": 107.05
    },
    {
      "date": "2018-01-01",
      "geo": "RO",
      "value": 100.21
    },
    {
      "date": "2018-02-01",
      "geo": "RO",
      "value": 89.44
    },
    {
      "date": "2018-03-01",
      "geo": "RO",
      "value": 93.5
    },
    {
      "date": "2018-04-01",
      "geo": "RO",
      "value": 93.32
    },
    {
      "date": "2018-05-01",
      "geo": "RO",
      "value": 107.15
    },
    {
      "date": "2018-06-01",
      "geo": "RO",
      "value": 101.3
    },
    {
      "date": "2018-07-01",
      "geo": "RO",
      "value": 109.9
    },
    {
      "date": "2018-08-01",
      "geo": "RO",
      "value": 103.77
    },
    {
      "date": "2018-09-01",
      "geo": "RO",
      "value": 98.22
    },
    {
      "date": "2018-10-01",
      "geo": "RO",
      "value": 97.56
    },
    {
      "date": "2018-11-01",
      "geo": "RO",
      "value": 101.44
    },
    {
      "date": "2018-12-01",
      "geo": "RO",
      "value": 98.16
    },
    {
      "date": "2019-01-01",
      "geo": "RO",
      "value": 116.24
    },
    {
      "date": "2019-02-01",
      "geo": "RO",
      "value": 91.53
    },
    {
      "date": "2019-03-01",
      "geo": "RO",
      "value": 86.27
    },
    {
      "date": "2019-04-01",
      "geo": "RO",
      "value": 88.73
    },
    {
      "date": "2019-05-01",
      "geo": "RO",
      "value": 88.09
    },
    {
      "date": "2019-06-01",
      "geo": "RO",
      "value": 89.78
    },
    {
      "date": "2019-07-01",
      "geo": "RO",
      "value": 95.96
    },
    {
      "date": "2019-08-01",
      "geo": "RO",
      "value": 103.18
    },
    {
      "date": "2019-09-01",
      "geo": "RO",
      "value": 99.7
    },
    {
      "date": "2019-10-01",
      "geo": "RO",
      "value": 108.52
    },
    {
      "date": "2019-11-01",
      "geo": "RO",
      "value": 113.7
    },
    {
      "date": "2019-12-01",
      "geo": "RO",
      "value": 118.29
    },
    {
      "date": "2020-01-01",
      "geo": "RO",
      "value": 100.76
    },
    {
      "date": "2020-02-01",
      "geo": "RO",
      "value": 102.75
    },
    {
      "date": "2020-03-01",
      "geo": "RO",
      "value": 95.16
    },
    {
      "date": "2020-04-01",
      "geo": "RO",
      "value": 92.98
    },
    {
      "date": "2020-05-01",
      "geo": "RO",
      "value": 89.4
    },
    {
      "date": "2020-06-01",
      "geo": "RO",
      "value": 89.88
    },
    {
      "date": "2020-07-01",
      "geo": "RO",
      "value": 91.83
    },
    {
      "date": "2020-08-01",
      "geo": "RO",
      "value": 97.55
    },
    {
      "date": "2020-09-01",
      "geo": "RO",
      "value": 111.02
    },
    {
      "date": "2020-10-01",
      "geo": "RO",
      "value": 108.22
    },
    {
      "date": "2020-11-01",
      "geo": "RO",
      "value": 112.2
    },
    {
      "date": "2020-12-01",
      "geo": "RO",
      "value": 116.27
    },
    {
      "date": "2021-01-01",
      "geo": "RO",
      "value": 123.56
    },
    {
      "date": "2021-02-01",
      "geo": "RO",
      "value": 110.33
    },
    {
      "date": "2021-03-01",
      "geo": "RO",
      "value": 115.47
    },
    {
      "date": "2021-04-01",
      "geo": "RO",
      "value": 123.99
    },
    {
      "date": "2021-05-01",
      "geo": "RO",
      "value": 130.91
    },
    {
      "date": "2021-06-01",
      "geo": "RO",
      "value": 130.75
    },
    {
      "date": "2021-07-01",
      "geo": "RO",
      "value": 137.65
    },
    {
      "date": "2021-08-01",
      "geo": "RO",
      "value": 141.54
    },
    {
      "date": "2021-09-01",
      "geo": "RO",
      "value": 146.59
    },
    {
      "date": "2021-10-01",
      "geo": "RO",
      "value": 140.47
    },
    {
      "date": "2021-11-01",
      "geo": "RO",
      "value": 142.05
    },
    {
      "date": "2021-12-01",
      "geo": "RO",
      "value": 140.63
    },
    {
      "date": "2022-01-01",
      "geo": "RO",
      "value": 129.2
    },
    {
      "date": "2022-02-01",
      "geo": "RO",
      "value": 124.42
    },
    {
      "date": "2022-03-01",
      "geo": "RO",
      "value": 129.38
    },
    {
      "date": "2022-04-01",
      "geo": "RO",
      "value": 135.53
    },
    {
      "date": "2022-05-01",
      "geo": "RO",
      "value": 139.95
    },
    {
      "date": "2022-06-01",
      "geo": "RO",
      "value": 130.65
    },
    {
      "date": "2022-07-01",
      "geo": "RO",
      "value": 148.4
    },
    {
      "date": "2022-08-01",
      "geo": "RO",
      "value": 150.24
    },
    {
      "date": "2022-09-01",
      "geo": "RO",
      "value": 159.76
    },
    {
      "date": "2022-10-01",
      "geo": "RO",
      "value": 145.96
    },
    {
      "date": "2022-11-01",
      "geo": "RO",
      "value": 129.96
    },
    {
      "date": "2022-12-01",
      "geo": "RO",
      "value": 119.94
    },
    {
      "date": "2023-01-01",
      "geo": "RO",
      "value": 120.57
    },
    {
      "date": "2023-02-01",
      "geo": "RO",
      "value": 122.01
    },
    {
      "date": "2023-03-01",
      "geo": "RO",
      "value": 114.54
    },
    {
      "date": "2023-04-01",
      "geo": "RO",
      "value": 120.58
    },
    {
      "date": "2023-05-01",
      "geo": "RO",
      "value": 132.57
    },
    {
      "date": "2023-06-01",
      "geo": "RO",
      "value": 143.45
    },
    {
      "date": "2023-07-01",
      "geo": "RO",
      "value": 147.72
    },
    {
      "date": "2023-08-01",
      "geo": "RO",
      "value": 136.38
    },
    {
      "date": "2023-09-01",
      "geo": "RO",
      "value": 127.24
    },
    {
      "date": "2023-10-01",
      "geo": "RO",
      "value": 120.19
    },
    {
      "date": "2023-11-01",
      "geo": "RO",
      "value": 119.48
    },
    {
      "date": "2023-12-01",
      "geo": "RO",
      "value": 134.41
    },
    {
      "date": "2024-01-01",
      "geo": "RO",
      "value": 134.8
    },
    {
      "date": "2024-02-01",
      "geo": "RO",
      "value": 137.51
    },
    {
      "date": "2024-03-01",
      "geo": "RO",
      "value": 131.89
    },
    {
      "date": "2024-04-01",
      "geo": "RO",
      "value": 141.39
    },
    {
      "date": "2024-05-01",
      "geo": "RO",
      "value": 141.97
    },
    {
      "date": "2024-06-01",
      "geo": "RO",
      "value": 135.64
    },
    {
      "date": "2024-07-01",
      "geo": "RO",
      "value": 124.2
    },
    {
      "date": "2024-08-01",
      "geo": "RO",
      "value": 124.79
    },
    {
      "date": "2024-09-01",
      "geo": "RO",
      "value": 126.85
    },
    {
      "date": "2024-10-01",
      "geo": "RO",
      "value": 143.01
    },
    {
      "date": "2024-11-01",
      "geo": "RO",
      "value": 142.74
    },
    {
      "date": "2024-12-01",
      "geo": "RO",
      "value": 150.95
    },
    {
      "date": "2025-01-01",
      "geo": "RO",
      "value": 141.51
    },
    {
      "date": "2025-02-01",
      "geo": "RO",
      "value": 140.02
    },
    {
      "date": "2025-03-01",
      "geo": "RO",
      "value": 133.31
    },
    {
      "date": "2025-04-01",
      "geo": "RO",
      "value": 128.72
    },
    {
      "date": "2025-05-01",
      "geo": "RO",
      "value": 131.63
    },
    {
      "date": "2025-06-01",
      "geo": "RO",
      "value": 145.78
    },
    {
      "date": "2025-07-01",
      "geo": "RO",
      "value": 155.86
    },
    {
      "date": "2025-08-01",
      "geo": "RO",
      "value": 155.79
    },
    {
      "date": "2025-09-01",
      "geo": "RO",
      "value": 154.63
    },
    {
      "date": "2025-10-01",
      "geo": "RO",
      "value": 147.78
    },
    {
      "date": "2025-11-01",
      "geo": "RO",
      "value": 158.9
    },
    {
      "date": "2025-12-01",
      "geo": "RO",
      "value": 154.63
    },
    {
      "date": "2026-01-01",
      "geo": "RO",
      "value": 163.17
    },
    {
      "date": "2026-02-01",
      "geo": "RO",
      "value": 154.96
    },
    {
      "date": "2026-03-01",
      "geo": "RO",
      "value": 148.05
    },
    {
      "date": "2026-04-01",
      "geo": "RO",
      "value": 147.08
    },
    {
      "date": "2026-05-01",
      "geo": "RO",
      "value": 148.95
    }
  ]
}