{
  "id": "macro_economics/housing/rs_housing_market_activity_monthly",
  "generated_at": "2026-07-05T18:27:36.605596+00:00",
  "last_refresh": "2026-07-05",
  "source": "National Bank of Serbia new-business housing-loan volumes deflated with BIS WS_SPP selected residential property prices, and Eurostat STS_COBP_Q residential building permits. The finance component is smoothed with a 6-month moving average before weighting; months after the latest official permit quarter carry forward the latest permit index level. Components are combined using 65% housing finance and 35% residential construction weights.",
  "source_description": "Monthly Serbia housing market activity indicator based on a weighted combination of a 6-month smoothed, house-price-adjusted new housing-loan volume index and residential building permits, indexed to 2019 = 100.",
  "table_id": "macro_economics/housing/rs_housing_market_activity_monthly",
  "meta": {
    "indicator_name": "Serbia housing market activity",
    "indicator_description": "Monthly Serbia housing market activity indicator based on a weighted combination of a 6-month smoothed, house-price-adjusted new housing-loan volume index and residential building permits, indexed to 2019 = 100.",
    "title": "Serbia housing market activity",
    "description": "Monthly Serbia housing market activity indicator based on a weighted combination of a 6-month smoothed, house-price-adjusted new housing-loan volume index and residential building permits, indexed to 2019 = 100.",
    "source": "National Bank of Serbia new-business housing-loan volumes deflated with BIS WS_SPP selected residential property prices, and Eurostat STS_COBP_Q residential building permits. The finance component is smoothed with a 6-month moving average before weighting; months after the latest official permit quarter carry forward the latest permit index level. Components are combined using 65% housing finance and 35% residential construction weights.",
    "source_description": "Monthly Serbia housing market activity indicator based on a weighted combination of a 6-month smoothed, house-price-adjusted new housing-loan volume index and residential building permits, indexed to 2019 = 100.",
    "visibility": "public",
    "updated_at": "2026-07-05T18:19:23.712956Z",
    "last_refresh": "2026-07-05",
    "table_id": "macro_economics/housing/rs_housing_market_activity_monthly",
    "topic": "Macroeconomics",
    "subtopic": "Housing",
    "geo": [
      "RS"
    ],
    "geo_included": [
      "RS"
    ],
    "page_slug": "serbia-housing-market-activity",
    "page_url": "/indicators/macroeconomics/housing/serbia-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": "Serbia Housing Market Activity",
    "y_axis_label": "Index [2019=100]",
    "related_indicators": [
      {
        "title": "Serbia Furniture Retail Market Size",
        "url": "/indicators/retail/market-size/serbia-furniture-retail-turnover/",
        "label": "Retail"
      },
      {
        "title": "Serbia Furniture Consumer Market Size",
        "url": "/indicators/retail/market-size/serbia-furniture-consumer-market-size/",
        "label": "Market size"
      },
      {
        "title": "Serbia Furniture Production Market Size",
        "url": "/indicators/industry/market-size/serbia-furniture-production-turnover/",
        "label": "Industry"
      },
      {
        "title": "Serbia Furniture Product Search Trend",
        "url": "/indicators/retail/online/serbia-furniture-products-search-trend/",
        "label": "Online"
      }
    ],
    "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": [
        "RS"
      ]
    },
    "methodology_url": "/about/methodology/housing-market-activity/",
    "methodology_label": "Housing Market Activity Methodology",
    "data_hash": "b17391ca36e05babc3f40a97c7c6cad9aef629618ca2943d297069f9097683de",
    "trend_summary": "The Serbia housing market activity indicator has shown significant growth since its trough in March 2015, where it registered a low of 33.5. Following a steady increase, the index peaked at 130.5 in February 2026, indicating a robust recovery and stabilization in the market. Currently, the latest level of 129.9 sits near this peak, reflecting strong upward momentum. Year-over-year increases of 32.6% over three months, 35.3% over six months, and 31.5% over twelve months highlight sustained interest and activity in the housing sector.",
    "trend_summary_generated_at": "2026-07-05T18:27:47.515623+00:00",
    "key_findings": [
      "Serbia's housing activity index at 129.9 reflects strong demand, up 32.6% year-over-year, indicating robust consumer interest.",
      "The index remains near its peak, suggesting housing activity is firm, which could support home-related furniture demand.",
      "Recent trends align with the National Bank of Serbia's new-business housing-loan volumes, adding context to the ongoing housing market strength."
    ],
    "key_findings_source": "ai_rewrite",
    "key_findings_generated_at": "2026-07-05T18:27:51.258664+00:00",
    "chart_alt_text": "Line chart for Serbia Housing Market Activity in index points. The series runs from 2015-03-01 to 2026-05-01; the latest value is 129.9 index points. The peak is 130.5 index points in 2026-02-01."
  },
  "data": [
    {
      "date": "2015-03-01",
      "geo": "RS",
      "value": 33.48
    },
    {
      "date": "2015-04-01",
      "geo": "RS",
      "value": 45.77
    },
    {
      "date": "2015-05-01",
      "geo": "RS",
      "value": 46.55
    },
    {
      "date": "2015-06-01",
      "geo": "RS",
      "value": 48.97
    },
    {
      "date": "2015-07-01",
      "geo": "RS",
      "value": 57.41
    },
    {
      "date": "2015-08-01",
      "geo": "RS",
      "value": 58.68
    },
    {
      "date": "2015-09-01",
      "geo": "RS",
      "value": 60.81
    },
    {
      "date": "2015-10-01",
      "geo": "RS",
      "value": 56.37
    },
    {
      "date": "2015-11-01",
      "geo": "RS",
      "value": 54.82
    },
    {
      "date": "2015-12-01",
      "geo": "RS",
      "value": 52.91
    },
    {
      "date": "2016-01-01",
      "geo": "RS",
      "value": 48.4
    },
    {
      "date": "2016-02-01",
      "geo": "RS",
      "value": 47.44
    },
    {
      "date": "2016-03-01",
      "geo": "RS",
      "value": 46.06
    },
    {
      "date": "2016-04-01",
      "geo": "RS",
      "value": 45.74
    },
    {
      "date": "2016-05-01",
      "geo": "RS",
      "value": 46.34
    },
    {
      "date": "2016-06-01",
      "geo": "RS",
      "value": 48.23
    },
    {
      "date": "2016-07-01",
      "geo": "RS",
      "value": 53.79
    },
    {
      "date": "2016-08-01",
      "geo": "RS",
      "value": 55.45
    },
    {
      "date": "2016-09-01",
      "geo": "RS",
      "value": 55.6
    },
    {
      "date": "2016-10-01",
      "geo": "RS",
      "value": 55.69
    },
    {
      "date": "2016-11-01",
      "geo": "RS",
      "value": 57.22
    },
    {
      "date": "2016-12-01",
      "geo": "RS",
      "value": 58.13
    },
    {
      "date": "2017-01-01",
      "geo": "RS",
      "value": 57.91
    },
    {
      "date": "2017-02-01",
      "geo": "RS",
      "value": 58.51
    },
    {
      "date": "2017-03-01",
      "geo": "RS",
      "value": 61.5
    },
    {
      "date": "2017-04-01",
      "geo": "RS",
      "value": 67.85
    },
    {
      "date": "2017-05-01",
      "geo": "RS",
      "value": 71.08
    },
    {
      "date": "2017-06-01",
      "geo": "RS",
      "value": 72.52
    },
    {
      "date": "2017-07-01",
      "geo": "RS",
      "value": 76.64
    },
    {
      "date": "2017-08-01",
      "geo": "RS",
      "value": 78.69
    },
    {
      "date": "2017-09-01",
      "geo": "RS",
      "value": 78.52
    },
    {
      "date": "2017-10-01",
      "geo": "RS",
      "value": 82.94
    },
    {
      "date": "2017-11-01",
      "geo": "RS",
      "value": 82.53
    },
    {
      "date": "2017-12-01",
      "geo": "RS",
      "value": 80.53
    },
    {
      "date": "2018-01-01",
      "geo": "RS",
      "value": 77.76
    },
    {
      "date": "2018-02-01",
      "geo": "RS",
      "value": 75.3
    },
    {
      "date": "2018-03-01",
      "geo": "RS",
      "value": 76.38
    },
    {
      "date": "2018-04-01",
      "geo": "RS",
      "value": 74.91
    },
    {
      "date": "2018-05-01",
      "geo": "RS",
      "value": 72.63
    },
    {
      "date": "2018-06-01",
      "geo": "RS",
      "value": 72.83
    },
    {
      "date": "2018-07-01",
      "geo": "RS",
      "value": 69.86
    },
    {
      "date": "2018-08-01",
      "geo": "RS",
      "value": 71.26
    },
    {
      "date": "2018-09-01",
      "geo": "RS",
      "value": 68.72
    },
    {
      "date": "2018-10-01",
      "geo": "RS",
      "value": 76.22
    },
    {
      "date": "2018-11-01",
      "geo": "RS",
      "value": 76.63
    },
    {
      "date": "2018-12-01",
      "geo": "RS",
      "value": 76.41
    },
    {
      "date": "2019-01-01",
      "geo": "RS",
      "value": 76.88
    },
    {
      "date": "2019-02-01",
      "geo": "RS",
      "value": 75.57
    },
    {
      "date": "2019-03-01",
      "geo": "RS",
      "value": 76.72
    },
    {
      "date": "2019-04-01",
      "geo": "RS",
      "value": 72.24
    },
    {
      "date": "2019-05-01",
      "geo": "RS",
      "value": 80.69
    },
    {
      "date": "2019-06-01",
      "geo": "RS",
      "value": 107.05
    },
    {
      "date": "2019-07-01",
      "geo": "RS",
      "value": 122.26
    },
    {
      "date": "2019-08-01",
      "geo": "RS",
      "value": 123.66
    },
    {
      "date": "2019-09-01",
      "geo": "RS",
      "value": 123.25
    },
    {
      "date": "2019-10-01",
      "geo": "RS",
      "value": 128.03
    },
    {
      "date": "2019-11-01",
      "geo": "RS",
      "value": 119.61
    },
    {
      "date": "2019-12-01",
      "geo": "RS",
      "value": 94.04
    },
    {
      "date": "2020-01-01",
      "geo": "RS",
      "value": 87.79
    },
    {
      "date": "2020-02-01",
      "geo": "RS",
      "value": 86.23
    },
    {
      "date": "2020-03-01",
      "geo": "RS",
      "value": 85.39
    },
    {
      "date": "2020-04-01",
      "geo": "RS",
      "value": 82.58
    },
    {
      "date": "2020-05-01",
      "geo": "RS",
      "value": 80.6
    },
    {
      "date": "2020-06-01",
      "geo": "RS",
      "value": 78.4
    },
    {
      "date": "2020-07-01",
      "geo": "RS",
      "value": 75.36
    },
    {
      "date": "2020-08-01",
      "geo": "RS",
      "value": 76.4
    },
    {
      "date": "2020-09-01",
      "geo": "RS",
      "value": 78.06
    },
    {
      "date": "2020-10-01",
      "geo": "RS",
      "value": 78.45
    },
    {
      "date": "2020-11-01",
      "geo": "RS",
      "value": 80.63
    },
    {
      "date": "2020-12-01",
      "geo": "RS",
      "value": 83.66
    },
    {
      "date": "2021-01-01",
      "geo": "RS",
      "value": 90.56
    },
    {
      "date": "2021-02-01",
      "geo": "RS",
      "value": 91.58
    },
    {
      "date": "2021-03-01",
      "geo": "RS",
      "value": 94.13
    },
    {
      "date": "2021-04-01",
      "geo": "RS",
      "value": 110.64
    },
    {
      "date": "2021-05-01",
      "geo": "RS",
      "value": 112.06
    },
    {
      "date": "2021-06-01",
      "geo": "RS",
      "value": 114.07
    },
    {
      "date": "2021-07-01",
      "geo": "RS",
      "value": 104.56
    },
    {
      "date": "2021-08-01",
      "geo": "RS",
      "value": 104.78
    },
    {
      "date": "2021-09-01",
      "geo": "RS",
      "value": 102.7
    },
    {
      "date": "2021-10-01",
      "geo": "RS",
      "value": 97.54
    },
    {
      "date": "2021-11-01",
      "geo": "RS",
      "value": 96.98
    },
    {
      "date": "2021-12-01",
      "geo": "RS",
      "value": 94.99
    },
    {
      "date": "2022-01-01",
      "geo": "RS",
      "value": 104.01
    },
    {
      "date": "2022-02-01",
      "geo": "RS",
      "value": 102.18
    },
    {
      "date": "2022-03-01",
      "geo": "RS",
      "value": 102.61
    },
    {
      "date": "2022-04-01",
      "geo": "RS",
      "value": 97.07
    },
    {
      "date": "2022-05-01",
      "geo": "RS",
      "value": 96.51
    },
    {
      "date": "2022-06-01",
      "geo": "RS",
      "value": 94.67
    },
    {
      "date": "2022-07-01",
      "geo": "RS",
      "value": 104.9
    },
    {
      "date": "2022-08-01",
      "geo": "RS",
      "value": 105.35
    },
    {
      "date": "2022-09-01",
      "geo": "RS",
      "value": 103.52
    },
    {
      "date": "2022-10-01",
      "geo": "RS",
      "value": 93.37
    },
    {
      "date": "2022-11-01",
      "geo": "RS",
      "value": 93.18
    },
    {
      "date": "2022-12-01",
      "geo": "RS",
      "value": 93.61
    },
    {
      "date": "2023-01-01",
      "geo": "RS",
      "value": 102.64
    },
    {
      "date": "2023-02-01",
      "geo": "RS",
      "value": 100.02
    },
    {
      "date": "2023-03-01",
      "geo": "RS",
      "value": 98.1
    },
    {
      "date": "2023-04-01",
      "geo": "RS",
      "value": 79.43
    },
    {
      "date": "2023-05-01",
      "geo": "RS",
      "value": 76.46
    },
    {
      "date": "2023-06-01",
      "geo": "RS",
      "value": 73.2
    },
    {
      "date": "2023-07-01",
      "geo": "RS",
      "value": 83.05
    },
    {
      "date": "2023-08-01",
      "geo": "RS",
      "value": 82.9
    },
    {
      "date": "2023-09-01",
      "geo": "RS",
      "value": 81.56
    },
    {
      "date": "2023-10-01",
      "geo": "RS",
      "value": 88.57
    },
    {
      "date": "2023-11-01",
      "geo": "RS",
      "value": 88.3
    },
    {
      "date": "2023-12-01",
      "geo": "RS",
      "value": 88.4
    },
    {
      "date": "2024-01-01",
      "geo": "RS",
      "value": 77.32
    },
    {
      "date": "2024-02-01",
      "geo": "RS",
      "value": 76.86
    },
    {
      "date": "2024-03-01",
      "geo": "RS",
      "value": 77.72
    },
    {
      "date": "2024-04-01",
      "geo": "RS",
      "value": 80.09
    },
    {
      "date": "2024-05-01",
      "geo": "RS",
      "value": 80.81
    },
    {
      "date": "2024-06-01",
      "geo": "RS",
      "value": 81.39
    },
    {
      "date": "2024-07-01",
      "geo": "RS",
      "value": 81.3
    },
    {
      "date": "2024-08-01",
      "geo": "RS",
      "value": 83.58
    },
    {
      "date": "2024-09-01",
      "geo": "RS",
      "value": 84.46
    },
    {
      "date": "2024-10-01",
      "geo": "RS",
      "value": 92.35
    },
    {
      "date": "2024-11-01",
      "geo": "RS",
      "value": 93.61
    },
    {
      "date": "2024-12-01",
      "geo": "RS",
      "value": 99.32
    },
    {
      "date": "2025-01-01",
      "geo": "RS",
      "value": 91.02
    },
    {
      "date": "2025-02-01",
      "geo": "RS",
      "value": 91.4
    },
    {
      "date": "2025-03-01",
      "geo": "RS",
      "value": 93.26
    },
    {
      "date": "2025-04-01",
      "geo": "RS",
      "value": 98.37
    },
    {
      "date": "2025-05-01",
      "geo": "RS",
      "value": 101.12
    },
    {
      "date": "2025-06-01",
      "geo": "RS",
      "value": 101.33
    },
    {
      "date": "2025-07-01",
      "geo": "RS",
      "value": 98.84
    },
    {
      "date": "2025-08-01",
      "geo": "RS",
      "value": 100.89
    },
    {
      "date": "2025-09-01",
      "geo": "RS",
      "value": 105.84
    },
    {
      "date": "2025-10-01",
      "geo": "RS",
      "value": 125.18
    },
    {
      "date": "2025-11-01",
      "geo": "RS",
      "value": 126.15
    },
    {
      "date": "2025-12-01",
      "geo": "RS",
      "value": 129.15
    },
    {
      "date": "2026-01-01",
      "geo": "RS",
      "value": 129.41
    },
    {
      "date": "2026-02-01",
      "geo": "RS",
      "value": 130.53
    },
    {
      "date": "2026-03-01",
      "geo": "RS",
      "value": 129.08
    },
    {
      "date": "2026-04-01",
      "geo": "RS",
      "value": 129.1
    },
    {
      "date": "2026-05-01",
      "geo": "RS",
      "value": 129.87
    }
  ]
}