Germany Housing Market Activity
Last updated:
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
Key findings:
- German housing activity remains subdued, pointing to a fragile backdrop for furniture demand.
- Recent sideways movement in housing signals no clear new demand impulse.
- Read alongside Germany Furniture Retail Market Size, housing activity at 69.2 suggests cautious demand signals.
Latest data:
| date | value |
|---|---|
| 2025-08-01 | 69.7 |
| 2025-09-01 | 72.81 |
| 2025-10-01 | 68.1 |
| 2025-11-01 | 69.84 |
| 2025-12-01 | 70.18 |
| 2026-01-01 | 71.07 |
| 2026-02-01 | 70.71 |
| 2026-03-01 | 71.94 |
| 2026-04-01 | 74.67 |
| 2026-05-01 | 74.39 |
| 2026-06-01 | 69.5 |
| 2026-07-01 | 69.15 |
Methodology: Housing Market Activity Methodology
Germany Housing Market Activity measures the monthly direction of Germany's residential cycle by combining house-price-adjusted new mortgage lending with residential building permits. It turns housing finance and construction signals into one indexed view of the housing backdrop for furniture demand, furniture retail and home-furnishing consumption.
Market Context
Germany's furniture market is exposed to both replacement demand and housing-linked purchases, so residential activity is a useful context indicator rather than a direct furniture sales measure. House-price-adjusted mortgage lending helps separate financing activity from house-price inflation, while building permits add a forward-looking construction signal. The indicator should be analysed with Germany Furniture Retail Market Size, Germany Furniture Product Search Trend and Germany Consumer Confidence.
