{
  "id": "macro_economics/housing/us_housing_market_activity_monthly",
  "generated_at": "2026-07-15T09:29:02.907807+00:00",
  "last_refresh": "2026-07-13",
  "source": "New mortgages FRED series RCMFLOORIGPURPPURCHASE disaggregated to monthly frequency using FRED EXHOSLUSM495S and adjusted with FRED CSUSHPINSA national Case-Shiller house price index; FRED HOUST housing starts total new privately owned housing units.",
  "source_description": "Monthly United States housing market activity indicator based on a weighted combination of house-price-adjusted new mortgage lending and residential building starts, indexed to 2019 = 100.",
  "table_id": "macro_economics/housing/us_housing_market_activity_monthly",
  "meta": {
    "indicator_name": "US housing market activity",
    "indicator_description": "Monthly United States housing market activity indicator based on a weighted combination of house-price-adjusted new mortgage lending and residential building starts, indexed to 2019 = 100.",
    "title": "US housing market activity",
    "description": "Monthly United States housing market activity indicator based on a weighted combination of house-price-adjusted new mortgage lending and residential building starts, indexed to 2019 = 100.",
    "source": "New mortgages FRED series RCMFLOORIGPURPPURCHASE disaggregated to monthly frequency using FRED EXHOSLUSM495S and adjusted with FRED CSUSHPINSA national Case-Shiller house price index; FRED HOUST housing starts total new privately owned housing units.",
    "source_description": "Monthly United States housing market activity indicator based on a weighted combination of house-price-adjusted new mortgage lending and residential building starts, indexed to 2019 = 100.",
    "visibility": "public",
    "updated_at": "2026-07-13T08:21:23.586472Z",
    "last_refresh": "2026-07-13",
    "table_id": "macro_economics/housing/us_housing_market_activity_monthly",
    "topic": "Macroeconomics",
    "subtopic": "Housing",
    "geo": [
      "US"
    ],
    "geo_included": [
      "US"
    ],
    "page_slug": "us-housing-market-activity",
    "page_url": "/indicators/macroeconomics/housing/us-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": "United States Housing Market Activity",
    "y_axis_label": "Index [2019=100]",
    "related_indicators": [
      {
        "title": "US Furniture Market Hub",
        "url": "/market/us-furniture-market-hub/",
        "label": "Market hub"
      },
      {
        "title": "US Furniture Retail Market Size",
        "url": "/indicators/retail/market-size/us-furniture-retail-turnover/",
        "label": "Market size"
      },
      {
        "title": "US Furniture Product Search Trend",
        "url": "/indicators/retail/online/us-furniture-products-search-trend/",
        "label": "Online"
      },
      {
        "title": "Germany Housing Market Activity",
        "url": "/indicators/macroeconomics/housing/germany-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": [
        "US"
      ]
    },
    "methodology_url": "/about/methodology/housing-market-activity/",
    "methodology_label": "Housing Market Activity Methodology",
    "data_hash": "9d1e837bd97e301883fe052cbe01c6790f4a8bb573711e85a7faffb6e94c1ed7",
    "trend_summary": "The United States housing market activity index shows significant fluctuations over the observed period. After peaking at 117.4 in June 2021, the index experienced a notable decline, reaching a trough of 56.3 in March 2024. The latest value of 61.0 indicates a slight recovery from the trough but remains well below the 2019 baseline of 100. Recent momentum appears stable, with year-over-year changes showing modest increases of 1.4% over six months and 1.3% over twelve months. Broadly, the index averaged higher in 2021, followed by a decline in subsequent years, suggesting a shift in market dynamics.",
    "trend_summary_generated_at": "2026-07-15T09:29:08.106826+00:00",
    "key_findings": [
      "US housing activity remains subdued, pointing to a cautious backdrop for furniture, kitchens and home-related demand.",
      "Read alongside US Furniture Retail Market Size and US Furniture Product Search Trend, 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 United States Housing Market Activity in index points. The series runs from 2015-01-01 to 2026-05-01; the latest value is 61 index points. The peak is 117.4 index points in 2021-06-01."
  },
  "data": [
    {
      "date": "2015-01-01",
      "geo": "US",
      "value": 73.69
    },
    {
      "date": "2015-02-01",
      "geo": "US",
      "value": 68.56
    },
    {
      "date": "2015-03-01",
      "geo": "US",
      "value": 72.67
    },
    {
      "date": "2015-04-01",
      "geo": "US",
      "value": 100.87
    },
    {
      "date": "2015-05-01",
      "geo": "US",
      "value": 99.09
    },
    {
      "date": "2015-06-01",
      "geo": "US",
      "value": 103.43
    },
    {
      "date": "2015-07-01",
      "geo": "US",
      "value": 109.29
    },
    {
      "date": "2015-08-01",
      "geo": "US",
      "value": 105.96
    },
    {
      "date": "2015-09-01",
      "geo": "US",
      "value": 110.58
    },
    {
      "date": "2015-10-01",
      "geo": "US",
      "value": 89.3
    },
    {
      "date": "2015-11-01",
      "geo": "US",
      "value": 87.43
    },
    {
      "date": "2015-12-01",
      "geo": "US",
      "value": 93.49
    },
    {
      "date": "2016-01-01",
      "geo": "US",
      "value": 81.42
    },
    {
      "date": "2016-02-01",
      "geo": "US",
      "value": 81.16
    },
    {
      "date": "2016-03-01",
      "geo": "US",
      "value": 80.44
    },
    {
      "date": "2016-04-01",
      "geo": "US",
      "value": 106.14
    },
    {
      "date": "2016-05-01",
      "geo": "US",
      "value": 106.06
    },
    {
      "date": "2016-06-01",
      "geo": "US",
      "value": 107.71
    },
    {
      "date": "2016-07-01",
      "geo": "US",
      "value": 110.36
    },
    {
      "date": "2016-08-01",
      "geo": "US",
      "value": 108.39
    },
    {
      "date": "2016-09-01",
      "geo": "US",
      "value": 107.34
    },
    {
      "date": "2016-10-01",
      "geo": "US",
      "value": 103.44
    },
    {
      "date": "2016-11-01",
      "geo": "US",
      "value": 99.53
    },
    {
      "date": "2016-12-01",
      "geo": "US",
      "value": 101.41
    },
    {
      "date": "2017-01-01",
      "geo": "US",
      "value": 84.37
    },
    {
      "date": "2017-02-01",
      "geo": "US",
      "value": 84.45
    },
    {
      "date": "2017-03-01",
      "geo": "US",
      "value": 83.94
    },
    {
      "date": "2017-04-01",
      "geo": "US",
      "value": 110.06
    },
    {
      "date": "2017-05-01",
      "geo": "US",
      "value": 110.37
    },
    {
      "date": "2017-06-01",
      "geo": "US",
      "value": 110.63
    },
    {
      "date": "2017-07-01",
      "geo": "US",
      "value": 113.77
    },
    {
      "date": "2017-08-01",
      "geo": "US",
      "value": 111.85
    },
    {
      "date": "2017-09-01",
      "geo": "US",
      "value": 111.51
    },
    {
      "date": "2017-10-01",
      "geo": "US",
      "value": 100.63
    },
    {
      "date": "2017-11-01",
      "geo": "US",
      "value": 103.59
    },
    {
      "date": "2017-12-01",
      "geo": "US",
      "value": 98.92
    },
    {
      "date": "2018-01-01",
      "geo": "US",
      "value": 88.52
    },
    {
      "date": "2018-02-01",
      "geo": "US",
      "value": 89.29
    },
    {
      "date": "2018-03-01",
      "geo": "US",
      "value": 90.53
    },
    {
      "date": "2018-04-01",
      "geo": "US",
      "value": 114.31
    },
    {
      "date": "2018-05-01",
      "geo": "US",
      "value": 115.2
    },
    {
      "date": "2018-06-01",
      "geo": "US",
      "value": 109.69
    },
    {
      "date": "2018-07-01",
      "geo": "US",
      "value": 110.09
    },
    {
      "date": "2018-08-01",
      "geo": "US",
      "value": 112.11
    },
    {
      "date": "2018-09-01",
      "geo": "US",
      "value": 108.76
    },
    {
      "date": "2018-10-01",
      "geo": "US",
      "value": 93.56
    },
    {
      "date": "2018-11-01",
      "geo": "US",
      "value": 92.44
    },
    {
      "date": "2018-12-01",
      "geo": "US",
      "value": 87.79
    },
    {
      "date": "2019-01-01",
      "geo": "US",
      "value": 79.07
    },
    {
      "date": "2019-02-01",
      "geo": "US",
      "value": 81.28
    },
    {
      "date": "2019-03-01",
      "geo": "US",
      "value": 80.35
    },
    {
      "date": "2019-04-01",
      "geo": "US",
      "value": 110.18
    },
    {
      "date": "2019-05-01",
      "geo": "US",
      "value": 112.31
    },
    {
      "date": "2019-06-01",
      "geo": "US",
      "value": 109.49
    },
    {
      "date": "2019-07-01",
      "geo": "US",
      "value": 103.37
    },
    {
      "date": "2019-08-01",
      "geo": "US",
      "value": 107.95
    },
    {
      "date": "2019-09-01",
      "geo": "US",
      "value": 104.35
    },
    {
      "date": "2019-10-01",
      "geo": "US",
      "value": 101.78
    },
    {
      "date": "2019-11-01",
      "geo": "US",
      "value": 101.17
    },
    {
      "date": "2019-12-01",
      "geo": "US",
      "value": 108.71
    },
    {
      "date": "2020-01-01",
      "geo": "US",
      "value": 90.69
    },
    {
      "date": "2020-02-01",
      "geo": "US",
      "value": 92.25
    },
    {
      "date": "2020-03-01",
      "geo": "US",
      "value": 79.88
    },
    {
      "date": "2020-04-01",
      "geo": "US",
      "value": 69.07
    },
    {
      "date": "2020-05-01",
      "geo": "US",
      "value": 67.4
    },
    {
      "date": "2020-06-01",
      "geo": "US",
      "value": 81.4
    },
    {
      "date": "2020-07-01",
      "geo": "US",
      "value": 106.53
    },
    {
      "date": "2020-08-01",
      "geo": "US",
      "value": 103.6
    },
    {
      "date": "2020-09-01",
      "geo": "US",
      "value": 111.3
    },
    {
      "date": "2020-10-01",
      "geo": "US",
      "value": 108.48
    },
    {
      "date": "2020-11-01",
      "geo": "US",
      "value": 106.22
    },
    {
      "date": "2020-12-01",
      "geo": "US",
      "value": 107.21
    },
    {
      "date": "2021-01-01",
      "geo": "US",
      "value": 98.18
    },
    {
      "date": "2021-02-01",
      "geo": "US",
      "value": 93.87
    },
    {
      "date": "2021-03-01",
      "geo": "US",
      "value": 99.43
    },
    {
      "date": "2021-04-01",
      "geo": "US",
      "value": 115.8
    },
    {
      "date": "2021-05-01",
      "geo": "US",
      "value": 116.66
    },
    {
      "date": "2021-06-01",
      "geo": "US",
      "value": 117.39
    },
    {
      "date": "2021-07-01",
      "geo": "US",
      "value": 117.24
    },
    {
      "date": "2021-08-01",
      "geo": "US",
      "value": 115.75
    },
    {
      "date": "2021-09-01",
      "geo": "US",
      "value": 116.78
    },
    {
      "date": "2021-10-01",
      "geo": "US",
      "value": 107.97
    },
    {
      "date": "2021-11-01",
      "geo": "US",
      "value": 109.93
    },
    {
      "date": "2021-12-01",
      "geo": "US",
      "value": 109.46
    },
    {
      "date": "2022-01-01",
      "geo": "US",
      "value": 95.03
    },
    {
      "date": "2022-02-01",
      "geo": "US",
      "value": 91.94
    },
    {
      "date": "2022-03-01",
      "geo": "US",
      "value": 88.23
    },
    {
      "date": "2022-04-01",
      "geo": "US",
      "value": 117.05
    },
    {
      "date": "2022-05-01",
      "geo": "US",
      "value": 106.88
    },
    {
      "date": "2022-06-01",
      "geo": "US",
      "value": 103.53
    },
    {
      "date": "2022-07-01",
      "geo": "US",
      "value": 92.92
    },
    {
      "date": "2022-08-01",
      "geo": "US",
      "value": 96.34
    },
    {
      "date": "2022-09-01",
      "geo": "US",
      "value": 94.5
    },
    {
      "date": "2022-10-01",
      "geo": "US",
      "value": 78.67
    },
    {
      "date": "2022-11-01",
      "geo": "US",
      "value": 75.72
    },
    {
      "date": "2022-12-01",
      "geo": "US",
      "value": 71.48
    },
    {
      "date": "2023-01-01",
      "geo": "US",
      "value": 59.92
    },
    {
      "date": "2023-02-01",
      "geo": "US",
      "value": 64.03
    },
    {
      "date": "2023-03-01",
      "geo": "US",
      "value": 62.21
    },
    {
      "date": "2023-04-01",
      "geo": "US",
      "value": 70.33
    },
    {
      "date": "2023-05-01",
      "geo": "US",
      "value": 77.19
    },
    {
      "date": "2023-06-01",
      "geo": "US",
      "value": 70.66
    },
    {
      "date": "2023-07-01",
      "geo": "US",
      "value": 71.75
    },
    {
      "date": "2023-08-01",
      "geo": "US",
      "value": 67.5
    },
    {
      "date": "2023-09-01",
      "geo": "US",
      "value": 68.01
    },
    {
      "date": "2023-10-01",
      "geo": "US",
      "value": 60.9
    },
    {
      "date": "2023-11-01",
      "geo": "US",
      "value": 64.99
    },
    {
      "date": "2023-12-01",
      "geo": "US",
      "value": 64.34
    },
    {
      "date": "2024-01-01",
      "geo": "US",
      "value": 59.89
    },
    {
      "date": "2024-02-01",
      "geo": "US",
      "value": 64.38
    },
    {
      "date": "2024-03-01",
      "geo": "US",
      "value": 56.27
    },
    {
      "date": "2024-04-01",
      "geo": "US",
      "value": 69.45
    },
    {
      "date": "2024-05-01",
      "geo": "US",
      "value": 67.55
    },
    {
      "date": "2024-06-01",
      "geo": "US",
      "value": 65.49
    },
    {
      "date": "2024-07-01",
      "geo": "US",
      "value": 65.67
    },
    {
      "date": "2024-08-01",
      "geo": "US",
      "value": 68.33
    },
    {
      "date": "2024-09-01",
      "geo": "US",
      "value": 67.18
    },
    {
      "date": "2024-10-01",
      "geo": "US",
      "value": 64.8
    },
    {
      "date": "2024-11-01",
      "geo": "US",
      "value": 63.88
    },
    {
      "date": "2024-12-01",
      "geo": "US",
      "value": 70.0
    },
    {
      "date": "2025-01-01",
      "geo": "US",
      "value": 59.36
    },
    {
      "date": "2025-02-01",
      "geo": "US",
      "value": 63.94
    },
    {
      "date": "2025-03-01",
      "geo": "US",
      "value": 58.51
    },
    {
      "date": "2025-04-01",
      "geo": "US",
      "value": 70.37
    },
    {
      "date": "2025-05-01",
      "geo": "US",
      "value": 67.54
    },
    {
      "date": "2025-06-01",
      "geo": "US",
      "value": 69.48
    },
    {
      "date": "2025-07-01",
      "geo": "US",
      "value": 70.09
    },
    {
      "date": "2025-08-01",
      "geo": "US",
      "value": 66.37
    },
    {
      "date": "2025-09-01",
      "geo": "US",
      "value": 67.61
    },
    {
      "date": "2025-10-01",
      "geo": "US",
      "value": 62.74
    },
    {
      "date": "2025-11-01",
      "geo": "US",
      "value": 63.89
    },
    {
      "date": "2025-12-01",
      "geo": "US",
      "value": 66.8
    },
    {
      "date": "2026-01-01",
      "geo": "US",
      "value": 66.13
    },
    {
      "date": "2026-02-01",
      "geo": "US",
      "value": 65.76
    },
    {
      "date": "2026-03-01",
      "geo": "US",
      "value": 69.47
    },
    {
      "date": "2026-04-01",
      "geo": "US",
      "value": 65.94
    },
    {
      "date": "2026-05-01",
      "geo": "US",
      "value": 61.02
    }
  ]
}